Author Archives: John Taylor

John Taylor’s Formula for the Fed

Informative NPR interview and discussion with me https://www.npr.org/2022/11/02/1133720724/john-taylors-formula-for-the-fed conducted by Darian Woods and Mary Childs on the Fed’s decision to raise rates and the Taylor Rule. Good questions and good answers with excerpts from Jay Powell and Janet Yellen. Here … Continue reading

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New Book on the Fed and Recent Monetary Policy

The book is entitled HOW MONETARY POLICY GOT BEHIND THE CURVE — AND HOW TO GET BACK and is based on conference held on May 6. The conference is described here: https://economicsone.com/2022/05/08/monetary-policy-got-behind-the-curve-how-to-get-back/ The book on the conference has many insightful … Continue reading

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Triple Take with Hyde, Riggs, Basak, & Taylor Rule

Good in-depth interview on Bloomberg’s Triple Take with me fielding terrific questions from Caroline Hyde, Taylor Riggs, & Sonali Basak about Taylor Rule, Fed’s being behind curve, and how to get back. Video ointerview is here from 0.25 to 13.05 … Continue reading

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40 Years of Lessons Learned: Jackson Hole 1982 & 2022

The stock market reaction to the Kansas City Fed meeting in Jackson Hole today was not so pleasant. The Dow Jones Industrial Average was down over 1,000 points or by over 3 %. The S&P 500 was down 3.4 percent. … Continue reading

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Essays in Honor of Marvin Goodfriend: Economist and Central Banker

A beautiful book, edited by Robert King and Alexander Wolman, https://www.richmondfed.org/-/media/RichmondFedOrg/publications/research/goodfriend/essays_marvin_goodfriend.pdf with original essays in tribute by Alfred Broaddus Jr., Donald Kohn, William Poole, Kartik Athreya and Stephen Williamson, Ben Bernanke, Michael Bordo and Edward Prescott, Douglas Diamond, Michael Dotsey, … Continue reading

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Play By The Rules

Federal Reserve Chair Jerome Powell’s testimony at the House and Senate this week again had much to say about monetary policy rules. The focus on policy rules is encouraging, as it is a way to both get back on track … Continue reading

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Rules are Back In The Monetary Policy Report

Last March, I quoted Federal Reserve Chair Jerome Powell on this Economics One blog post https://economicsone.com/2022/03/03/well-have-it-in-the-next-one-well-bring-them-back-for-the-july-said-chair-powell-at-the-house-yesterday-and-at-the-senate-today/  from his March 2 and March 3 testimony at the House and Senate that “WE’LL HAVE IT IN THE NEXT ONE.”  He was responding … Continue reading

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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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