Caroline Baum has five questions for Fed Chairman Ben Bernanke when testifies to Congress on March 1-2. She has great questions for Bernanke and I hope someone in Congress will ask them. Here is one more question I would like to see Congress ask Bernanke:
"Chairman Bernanke, the minutes of the September, 2010 FOMC meeting show that nominal GDP targeting was discussed. Other observers have also been discussing the idea. What are your thoughts on nominal GDP targeting as a way to conduct U.S. monetary policy?"
If case anyone is interested, here are some posts that make the case for a nominal GDP level target:
Ben has no concern how many people stay out of work.ReplyDelete
C Rampell took the trouble to suggest questions for Ben during the hearings. You added some more...
But this sort of useless exchange is what transpired.
My thoughts: "Taylor Rules" should be "outlawed" (and IT with it)
That was C Baum (not Rampell)