Author Archives: John Taylor

Rules and Strategies in the Fed’s New Monetary Policy Report

The Fed’s Monetary Policy Report released last Friday devotes a lot of space to monetary policy rules. This is the third time in a row that the monetary policy report has included such discussions, the first being in July 2017 … Continue reading

Posted in Monetary Policy

Still Exploding After All These Years

For the past nine years on Independence Day (see here and here for example), I’ve plotted the most recent long-term projection of the federal debt by the Congressional Budget Office as a reminder that it’s as explosive as the Fourth of … Continue reading

Posted in Budget & Debt

What We Wanted We Got: A Debate on the Fed’s Balance Sheet

A big question addressed at this year’s annual Hoover monetary conference was “The Future of the Central Bank Balance Sheet,” including the amount of reserve balances that banks hold at the Fed. The issue is one that “the [Federal Reserve] … Continue reading

Posted in Monetary Policy

Economics 1 Online. Summer 2018. Free.

This summer we will again offer Stanford’s Principles of Economics course online for free.  You can register now for the course on Stanford’s open on-line platform Lagunita. We will start on Monday June 25 and go through August 24. I … Continue reading

Posted in Uncategorized

Still Crazy After All These Years—And What About the Next 50

Yesterday I was talking to a friend in my office about the great benefit to students from writing undergraduate honors theses in their senior year.  I have long advised students to do so, perhaps because of the rewarding experience I … Continue reading

Posted in Monetary Policy, Teaching Economics

Favorite Economics April Fools Day Jokes on Twitter

Thanks for a little humor about two of the most important economic topics of the day: monetary policy at the Fed and bankruptcy policy at Tesla. I am sure there are others, but these two are my favorites: Monetary Policy … Continue reading

Posted in Uncategorized

Monetary Policy Getting Back on Track

In many ways, the Fed has begun to bring monetary policy back on track as it emphasizes a strategy and the use of monetary policy rules: On January 18 of last year, former Chair Janet Yellen described the Fed’s strategy … Continue reading

Posted in Monetary Policy