Not to be missed:
Watch video where he says the Fed should target NGDPLT!
And from The Atlantic: “A rebellion at the Federal reserve”?
Actually, it’s not quite true that Evans wants more inflation. He wants more income. To revert to econospeak, he wants the total size of the economy — that is, inflation plus growth, or nominal GDP — to get back to the long-term trend it was on before the financial crisis and recession. He would prefer if NGDP goes up due to real growth. But if it’s a choice between stagnating NGDP and NGDP that’s going up mostly because of inflation, Evans would choose the latter.
Late last night I wished “new voices” would come out of the woodwork. Rare for a wish to be so promptly granted!