tag:blogger.com,1999:blog-2761684730989137546.post2393487825702420899..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: Rebellion at the Fed? NGDP targeting gets a boostmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2761684730989137546.post-52928319554138957352012-05-02T21:09:56.798-04:002012-05-02T21:09:56.798-04:00"A better question -- should the Fed inflatio..."A better question -- should the Fed inflation target distinguish between inflation caused by full employment (when's the last time that happened ?) vs. inflation caused by oil and other commodities that are subject to foreign influences beyond our control ?"<br /><br />If it doesn't distinguish, it is treating the wrong problem. As everyone knows, the reason we go to a professional for diagnosis is because the same symptoms can have a variety of causes.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-71088815232272430602012-05-02T18:37:19.572-04:002012-05-02T18:37:19.572-04:00Agree that the 2% inflation target is too low in g...Agree that the 2% inflation target is too low in good times, but fail to see what the Fed can do at the present -- push on a string ?<br /><br />A better question -- should the Fed inflation target distinguish between inflation caused by full employment (when's the last time that happened ?) vs. inflation caused by oil and other commodities that are subject to foreign influences beyond our control ?Dan Lynchhttps://www.blogger.com/profile/11189866002273597534noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-35224651192234959002012-05-02T17:16:57.955-04:002012-05-02T17:16:57.955-04:00The Fed should just target low unemployment and lo...The Fed should just target low unemployment and low inflation and that's what we'll get. See how easy it is. Just target something and you get it. Makes perfect sense...Detroit Danhttps://www.blogger.com/profile/03718490473585220856noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-43791359657187242672012-05-02T17:04:01.717-04:002012-05-02T17:04:01.717-04:00The FED is so delusional that thinks they can targ...The FED is so delusional that thinks they can target NGDP?<br /><br />How they are going to that? Just by saying it we have a wave of businessmen investing their money in real projects? Or we will have instead an huge rise in the price of oil which will destroy the little spare consumption capacity americans (and the rest of the world) has? Or nothing will happen at all?<br /><br />So we move to the next steep, one Bernanke in his speeches early 2000's gave: FED buying stuff of the market to increase money supply; because increasing deficits is politically out of question while CB makes a statement of buying any 'debt' (avoid issuing it in the first dumb ass). We end with a central bank owning even more assets, which assets are these? What will people invest its money on? And finally, how is that money going to flow and be distributed?<br /><br />More money for the 1% while everyone else gets even more debt? The perpetual debt bubble machine? Ridiculous.Leveragenoreply@blogger.com