Author Archives: John Taylor

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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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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