Guess who wrote this paragraph:
Central banks have the means to prevent a 1930s outcome, even with rates at zero, if willing to deploy Fisher-Friedman monetary stimulus with conviction, buying assets from non-banks and targeting nominal GDP growth of 5pc. But policy defeatism is in the air... The European Central Bank has guaranteed trouble by letting M3 money contract... The ECB's Mario Draghi will cut interest rates to 0.5pc by February, just to keep pace with passive tightening.
In this small excerpt we find the ideas of nominal GDP targeting, purchasing assets from the non-bank public (i.e. using the portfolio channel), and the passive tightening of monetary policy. No, the author is not a Market Monetarist blogger. Rather, this is Ambrose Evans-Pritchard, a columnist for The Telegraph and fan of Market Monetarist's views. As Lars Christensen notes, this is not the first time Evans-Pritchard has advocated Market Monetarist views.