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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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About Tate Lacey
Tate Lacey is a policy analyst at the Cato Institute’s Center for Monetary and Financial Alternatives, covering monetary policy and macroeconomics. Before joining Cato, Lacey was an economist at the Bureau of Economic Analysis, serving on the team responsible for publishing monthly GDP statistics and reports. At BEA he monitored and analyzed the financial, health, and education sectors, among others, and created indicators for use in the National Income and Product Accounts. Prior to BEA, Lacey spent three years as a management consultant for a range of clients, including many of the nation’s largest banks. His specialty in designing risk management frameworks helped clients to manage compliance costs and better understand and reduce risk exposure. He had the privilege of serving as a research fellow in Congress, advising on federal budget projections and monetary policy.

A native Californian, Lacey studied political science and philosophy at the University of California, Davis and earned his MA in applied economics from Johns Hopkins University.
Federal Reserve, Jay Powell, Jackson Hole, monetary economics, nominal GDP, NGDP targeting
Financial Markets, News, The Fed & Central Banks

Powell's Jackson Hole Speech Should Give NGDP Advocates Optimism

Tate Lacey/August 29, 2018August 29, 2018 /2 Comments

Last weekend the Federal Reserve Bank of Kansas City hosted its annual symposium in Jackson Hole. Despite being the Fed’s largest annual event, the symposium has been “fairly boring” for years, in terms of what can be learned about the future of actual policy. This year’s program,…

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NGDP target, nominal GDP, Federal Reserve, operating framework, price level target
Inflation & Deflation, News, The Fed & Central Banks

Price Level Targeting: A Step in the Right Direction

Tate Lacey/June 12, 2018June 12, 2018 /6 Comments

The Federal Reserve plans to review its inflation growth rate target and potentially select a new monetary policy target. Many Fed officials are in favor of the idea, including Chair Powell. And the latest FOMC minutes show that the Fed’s policy setting committee has discussed new targets….

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Richard Clarida, John Williams, Jay Powell, Federal Reserve, FOMC, ngdp target, price level target
News, The Fed & Central Banks

Clarida Nomination Completes the Fed's Triumvirate

Tate Lacey/April 25, 2018April 25, 2018 /1 Comment

Last week the White House announced that Richard Clarida will be nominated to become Vice Chair of the Federal Reserve Board. More than a month ago, Clarida became the front-runner for the role. He is widely seen as a centrist and a pragmatist holding mostly conventional views…

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San Francisco Fed, New York Fed, Federal Reserve, John Williams, operating framework, monetary policy
Money & Politics, News, The Fed & Central Banks

From Silicon Valley to the Big Apple: John Williams Named Next NY Fed President

Tate Lacey/April 5, 2018April 4, 2018 /3 Comments

The Federal Reserve Bank of New York has made its decision. On June 18 of this year John Williams, currently serving as the President of the Federal Reserve Bank of San Francisco, will succeed William Dudley as New York Fed President. This decision will have many ramifications…

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Jerome Powell, NGDP target, nominal GDP, Federal Reserve, monetary policy
Economic Thought, Money & Politics, The Fed & Central Banks

2018: The Year of Nominal GDP Targeting?

Tate Lacey/March 7, 2018March 7, 2018 /Leave a comment

Alternative monetary policy targets continue to gain advocates. While Chair Powell was waiting to take over leadership at the Fed, internal support for rethinking the current inflation rate target was building. And while there are various possibilities to consider — such as raising the inflation rate target,…

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Recent Posts

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