Now from the Brookings Insitution:
On the face of current realities, it is clear that central banks in many countries need to shift their focus away from inflation targeting or exchange rate targeting to nominal GDP targeting. The sooner this happens the better for the world economy. The management of monetary policy in the next five years will likely be very different to current conventional wisdom.
The more Liberal Brookings joins the Conservative AEI and National Review with members who favor a regime change. That´s good for the newly minted Program on Monetary Policy at the Mercatus Center. It won´t be “shouting in the wilderness”!