Mostly revolving around monetary policy
| Platform |  | Pricing | Freemium | Publishes | Daily |
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| Issues | 501 | Founded | 6 years ago | Last Issue | 3 days ago |
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Public Debt Has Three Inputs. Two of Them Are Monetary.
Both framings obscure the arithmetic, which is simple, and which says something the public discussion rarely does: whether the debt ratio rises or falls depends on three things, and two of them are determined by the central bank. On today’s...
The Book That Removed Money from Monetary Policy
When Michael Woodford published Interest and Prices: Foundations of a Theory of Monetary Policy in 2003, the title was a statement of intent.
Don Patinkin’s Money, Interest and Prices, published in 1956, had been the standard reference fo...
What Are We Actually Trying to Anchor?
Scott Sumner says NGDP targeting is “usefully wrong.” He is right. But the useful part is doing the heavy lifting.
Scott Sumner, the economist who has done more than anyone to popularise NGDP level targeting, published a post this weekend...
Weak Jobs Do Not Mean Weak Demand
Markets read it as a reason for the Fed to stop tightening. But on the same morning, nominal spending was still growing above 6 percent and Divisia M4 above 7. Both are true. Only one of them is about demand — and the gap between them says...
The Fed’s Worst Error Came From Not Looking Through
He is right about the present moment, right about the AI build-out, and right that the profession’s forecasting record on this inflation is embarrassing. But the rule he is proposing would have made the worst monetary error of the past half...
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