(Author's Note, April 11, 2019: I have made some slight revisions to this article in response to criticisms of the original by Bob Murphy, for which I sincerely thank him.) Of many dubious claims that recent Federal Reserve Board nominee Stephen Moore made in a Wall Street…
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….
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…