Focus on Monetary Policy and Inflation
By BRUCE BARTLETT,
Posted: October 25, 2011
On October 24, the Federal Reserve Bank of San Francisco published a study on the future of cash. It finds that despite the growing popularity of debit and credit cards, cash remains a highly popular method of paying for things.
On October 21, the International Monetary Fund published a working paper examined the contributions of domestic monetary policy and international capital flows to credit booms.
Also on October 21, Morgan Stanley posted a commentary discussing the basic principles of central banking today.
And on October 21, Carnegie Mellon economist Bennett McCallum posted a paper on nominal GDP targeting for the Fed.
On October 19, the U.S. Government Accountability Office published a report raising questions about the lack of diversity among boards of directors of the regional Federal Reserve banks.
On October 18, Federal Reserve chairman Ben Bernanke gave a speech on how the recession has affected central bank doctrine.
In an October 17 speech, Federal Reserve Bank of Chicago president Charles Evans said it would be worth a little more inflation to get the unemployment rate down.
On October 14, the Federal Reserve Bank of Cleveland published a study which found that both inflation and inflationary expectations have been declining all year.
Also on October 14, Goldman Sachs published a report urging the Federal Reserve to adopt a nominal GDP target for monetary policy.
I last posted items on this topic on October 10.
Bruce Bartlett is an American historian and columnist who focuses on the intersection between politics and economics. He blogs daily and writes a weekly column for The Fiscal Times. Bartlett has written for Forbes Magazine and Creators Syndicate, and his work is informed by many years in government, including as a senior policy analyst in the Reagan White House. He is the author of seven books including his new book: The Benefit and the Burden.