tag:blogger.com,1999:blog-5713178645208582139.post1684747096450544033..comments2024-03-22T02:37:15.030-05:00Comments on Macro Musings Blog: The Epic Failure of Central BankingDavid Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5713178645208582139.post-16036693995296293922012-08-07T10:26:24.899-05:002012-08-07T10:26:24.899-05:00its a good sign. I wish we had better "conser...its a good sign. I wish we had better "conservative" economists on the FOMC. Fisher, for example, has repeatedly stated he does not want to keep rates low because it eliminates the pressure on Congress to pursue sound fiscal policy. Well, duh, he should favor 4.5% nominal income targeting because it makes the public/private spending decisions and CBO budgeting much more transparent. My dwbhttps://www.blogger.com/profile/02799793864068767226noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-42779888096858168032012-08-07T09:17:58.191-05:002012-08-07T09:17:58.191-05:00dwb, that is good news. Rosengreen is not a voting...dwb, that is good news. Rosengreen is not a voting memeber this year, but his words are hopefully a sign and an encouragement to those waivering on the FOMC.David Beckworthhttps://www.blogger.com/profile/04577612979801459194noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-26409727434258001082012-08-07T08:06:12.929-05:002012-08-07T08:06:12.929-05:00take note: now Rosengren also favors open ended QE...take note: now Rosengren also favors open ended QE with a 4.5% nominal income target. <br /><br /><br /><i> "Mr. Rosengren said he did not have a firm view on what kind of measuring stick the Fed should use for a new program of asset purchases. But he suggested the Fed could target a minimum rate of nominal growth — economic growth plus inflation — of 4.5 percent."<br /></i><br /><br />dwbhttps://www.blogger.com/profile/02799793864068767226noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-17166632484246966832012-08-02T22:17:02.942-05:002012-08-02T22:17:02.942-05:00It's like the ECB is putting on the pounds but...It's like the ECB is putting on the pounds but refusing to loosen its belt--passive tightening.<br /><br />Hmm. Need better analogy.Lee Kellyhttp://criticalrationalism.netnoreply@blogger.com