TheMoneyIllusion

A slightly off-center perspective on monetary problems.

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There’s only one reliable rule of thumb in macro

March 22, 2019

Facebook Twitter Google+ LinkedIn This is a follow-up to the previous post. There is an endless search for rules of thumb in macro. In the 1940s, very low interest rates were the new norm. In the 1950s, rates began rising and frequent mild recessions were the new norm. In the 1960s, one long “Phillips... Read More >>
Other Posts

The yield curve inverted


Facebook Twitter Google+ LinkedIn The Financial Times reports that the yield curve inverted, albeit by just 1 basis point: Uh oh Does this mean... Read More >>

MMT “explained”


Facebook Twitter Google+ LinkedIn Bloomberg has a new article that attempts to explain what MMT is all about. It begins by... Read More >>

Whatever floats your boat


Facebook Twitter Google+ LinkedIn [If you only have time for one post today, my Econlog post is the better choice.] Some people... Read More >>

What role do we want the monetary base to serve?


Facebook Twitter Google+ LinkedIn Over at Econlog, I have a new post discussing the Fed’s opposition to narrow banking, and specifically John... Read More >>

The Fed’s targeting the wrong forecast


Facebook Twitter Google+ LinkedIn David Beckworth has a nice interview with Ryan Avent, which touches on a number of monetary issues. In... Read More >>

Why modern leftism and modern conservatism are both evil


Facebook Twitter Google+ LinkedIn During the 1990s, neither leftism nor conservatism were evil. Now they both are. How did this... Read More >>

The issue is the issue


Facebook Twitter Google+ LinkedIn The NYT has an interesting article showing how Brexit has split British society right down the middle, as... Read More >>

Never reason from a quantity change


Facebook Twitter Google+ LinkedIn The jobs number for February (20,000 jobs) was quite weak. It might just be a one-month blip—the... Read More >>

Is Trump winning? (yes and no)


Facebook Twitter Google+ LinkedIn Here’s Tyler Cowen in Bloomberg: What about trade and immigration, two issues dear to the heart of President Donald... Read More >>