It's kind of shocking, when it comes to how irresponsible it is. It's emblematic of a desire to, essentially, increase corporate power.
Federal Reserve
… caused by swings in total spending should be avoided. NGDP targeting stabilizes total nominal spending directly. The … caused by swings in total spending should be avoided. NGDP targeting stabilizes total nominal spending directly. The … - page 739
… NGDP targeting keeps total nominal spending - 10643 NGDP targeting keeps total nominal spending growth on a steady … economy is 3 percent and the Fed has a5 percent NGDP growth target, it expands the money supply enough to boost nominal … - page 739
… and real output growth are below trend. Whereas NGDP targeting focuses directly on stable demand as an outcome, … and real output growth are below trend. Whereas NGDP targeting focuses directly on stable demand as an outcome, … - page 739
… a bust. Either rule likely outperforms a strict inflation target and greatly outperforms the Fed’s current pseudo-inflation target. While NGDP targeting and the Taylor Rule have much to commend them, … - page 740
… more feasible option. The other rules discussed (inflation targeting, NGDP targeting, and the Taylor Rule) are more complicated but … more feasible option. The other rules discussed (inflation targeting, NGDP targeting, and the Taylor Rule) are more … - page 740
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