Monetary Policy has been a failure. A sure sign of that is the number of new “Monetary, Fiscal and Financial Centers” being set up.
The latest “confront the Fed” attempt is the new “Center for Monetary and Financial Alternatives” at the Cato Institute:
The Center for Monetary and Financial Alternatives is dedicated to finding better alternatives to today’s discretionary monetary and counterproductive financial regulatory regimes. By studying and making academics, policymakers, and the general public aware of possibilities for monetary and financial reform ranging from strict monetary rules to self-regulating cyber-currencies, the Center will develop practical policy strategies for building a monetary and financial system that is both more competitive and far more stable than the status quo.
That follows on the steps of the “Hutchins Center on Fiscal and Monetary Policy” launched last December at the Brookings Institution”:
The Hutchins Center provides independent, non-partisan analysis of fiscal and monetary policy issues in order to further public understanding and to improve the quality and effectiveness of those policies.
I see David Beckworth is attached to Cato´s new Center, so I sincerely hope Market Monetarism and NGDP-LT will be aired.