The Monetary Policy Debates

From angrybearblog.com

This article by David Leonhardt in the New York Times is getting a lot of attention. Leonhardt argues that there is an active debate in the economics profession between inflation hawks, moderates and doves and that only the position of hawks and moderates are represented on the Fed open market committee (FOMC). He guesses that Perry's equating dovishness with treason (now for monetary policy too) might be part of the problem. I personally have a strong objection to Leonhardt's article. He lumps together people who think that the Fed should not cause higher inflation with people who think that the Fed ... (full story)