Author Archives: John Taylor
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
Posted in Monetary Policy, Uncategorized
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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
A New Look at Income Inequality in the US
Yesterday, at the Hoover Economic Policy Working Group (EPWG), David Splinter of the Staff of the Joint Committee on Taxation discussed a paper he wrote with Gerald Auten of the Office of Tax Analysis at the Department of Treasury. A … Continue reading
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Time for a Reentry to a Monetary Policy Strategy
In a new paper I examine the ways for the Fed to engage in a reentry to a rules-based monetary policy. For several years, starting around 2017, the Fed had begun to move to a rules-based monetary policy that had … Continue reading
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Principles of Economics — Open – Online – Ready To Go
This spring we will be offering an open online version of the Principles of Economics course. To get more information and sign up, go to https://www.edx.org/course/principles-of-economics. The course begins on Monday, March 29, 2021. It is self-paced so students can … Continue reading
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The Need for a Monetary Strategy
Today the Federal Open Market Committee described its upcoming plans for the federal funds rate through 2023. It is good, as I wrote last month on this blog that “Rules Are Back In The Fed’s Monetary Policy Report,” after a … Continue reading
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Rules Are Back In The Fed’s Monetary Policy Report
The Federal Reserve’s latest Monetary Policy Report just released on February 19, 2021 has a whole section on monetary policy rules. That policy rules are back in the Report is a very welcome development. It re-initiates a helpful reporting approach … Continue reading
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Watch, Listen, and Enjoy a Film About Thomas Sowell
The new one-hour program “Thomas Sowell: Common Sense in a Senseless World,” is a must watch. Beautifully narrated by Jason Riley of the Wall Street Journal, it tells the amazing life story of Thomas Sowell, born in 1930 in North … Continue reading
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Ideas and Actions for a Free Society: Still Relevant After a Year
Exactly one year ago, on January 15-17, 2020, a special meeting of the Mont Pelerin Society was held at the Hoover Institution at Stanford University. The Mont Pelerin Society was founded in 1947 for the “preservation and improvement of the … Continue reading
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Economics One 