Relevant:
- The Fed's New, Squishy Inflation Target
- Central banks' pursuit of inflation has turned Sisyphean and some are calling for it to end
- Fed Raises Benchmark Rate as Inflation Approaches 2% Target
- Inflation Misses Fed's 2% Target ... Again (But Food Up 30% Annualized This Year)
- The Mystery of Missing Inflation Weighs on Fed Rate Move
2013-10-12 — prudentbear.com
During a CNBC interview, Harvard history professor Niall Ferguson spoke of "desperate improvisation" at the Federal Reserve. Ferguson also stated an interesting view of how Yellen might differ from Bernanke: "Theoretically [she is] on the same page as Bernanke, but covertly, she would really like to have a nominal GDP target--a new level of policy innovation on the monetary side."
An inflation target; an unemployment rate target; a target for the short-term "Fed funds" rate; a target for market bond yields; and now, perhaps, a GDP target. Lots of policy targets that obfuscate the Fed's true intentions: The Fed is trapped in a desperate monetary inflation and there is apparently no mechanism to rein in our central bank.
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.