Author Archives: John Taylor
Monetary Policy Got Behind the Curve, How to Get Back
On Friday May 6, we held our annual Monetary Policy Conference at the Hoover Institution at Stanford. This year it was entitled: “How Monetary Policy Got Behind the Curve and How to Get Back,” and the title turned out to … Continue reading
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“WE’LL HAVE IT IN THE NEXT ONE,” “WE’LL BRING THEM BACK FOR THE JULY,” said Chair Powell at the House yesterday and at the Senate today
At hearings of the House Financial Services Committee yesterday, and of the Senate Banking Committee today, Fed Chair Jerome Powel was asked about why he and the Federal Reserve Board omitted the section on monetary policy rules in the just … Continue reading
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A New-Old Critique of Monetary Policy
Today, John Cochrane, Mickey Levy, Kevin Warsh & I spoke at a roundtable discussion on the Fed’s monetary policy at the Hoover Economic Policy Working Group. Cochrane talked about the fiscal side, Levy about the best inflation measures, Warsh about … Continue reading
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Bill McGurn Shows Nice Video Clip of Milton Friedman
Bill McGurn make a lot of good references to Milton Friedman in a video just posted on the Wall Street Journal web site. We hear Milton talking about the power of the market. https://www.wsj.com/video/series/main-street-mcgurn/wsj-opinion-joe-biden-milton-friedman-and-a-lesson-in-inflation/E3400D7C-AA91-49CC-8341-65721E37BDF4 It is a great video and … Continue reading
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New Principles of Economics Now Available
I am very happy to say that the new edition of Principles of Economics v9.1 is now officially published. Here is where you can find it on the FlatWorld web page: https://catalog.flatworldknowledge.com/catalog/editions/principles-of-economics-9-1. It has been pleasure for me to continue … Continue reading
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“The Most Reckless Monetary Policy Since Arthur Burns”
Today the Editorial Board of the Wall Street Journal wrote that the Federal Open Market Committee has shown “little interest in reeling in what has been the most reckless monetary policy since Arthur Burns roamed the Eccles Building.” Last month … Continue reading
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Shortest Recession in US History
The Business Cycle Dating Committee of the National Bureau of Economic Research has a very important job. It is responsible for determining the peaks and troughs of business cycles in the United States. It thus decides how long recessions are … Continue reading
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Monetary Policy a Half Century Ago, and Now
Today I published an article in Project Syndicate. It starts with a memo sent fifty years ago, on June 22, 1971, by Fed Chair Arthur Burns to President Richard Nixon. Inflation was rising and Burns wrote to Nixon that the … Continue reading
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Amazing New Facts About the 2007-2009 Global Financial Crisis
This week Raghu Rajan spoke at the Hoover Economics Policy Working Group on “Going the Extra Mile: Distant Lending and Credit Cycles” a joint paper João Granja and Christian Leuz. Here is a video of his presentation https://www.hoover.org/events/policy-seminar-raghuram-rajan-1 along with … Continue reading
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The Impact of the Pandemic and Lasting Lessons for Teaching Economics
Yesterday, I gave a keynote talk at the tenth American Economic Association Conference on Teaching and Research in Economic Education (CTREE). I have been teaching economics for 53 years. I love teaching economics. I love researching economics. And I love … Continue reading
Economics One 