Bentley University economics professor Scott Sumner says the Federal Reserve ought to be far more aggressive in stimulating the U.S. economy and explains how a nominal GDP target would be a better way to run monetary policy.
Update. Kelly Evans is a very smart journalist.
She´s thinking: “How do I get into the “spotlight? I know, I do a smackdown on something “new” that´s beginning to attract attention. Those guys will certainly “shoot” back. OK, that happened. Now I´ll come back nice and sweet and link to a bunch of their posts. I´ve been noticed. That´s also done. Now I´ll get an exclusive (a US first) with the “high priest” of NGDPT. That´s done too”!