Andrew Metrick of Yale University interviewed former Fed Chair Janet Yellen today. It was an interesting discussion and one where they talked about, among other things, what changes the Fed could bring about in light of the recently announced strategies, tools, and communication review to be held in 2019. Janet Yellen said her idea for reform "has much in common with NGDP targeting". Her response can be seen in the video below: [embedded content] Glad to see her endorse a NGDPLT-like monetary regime.
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Bradford DeLong writes Brad DeLong's Grasping Reality 2019-06-24 20:12:05