The Fed needs credibility not just as an inflation fighter but as a recession-fighter, too
On the "two sided" credibilty issue, it seems: It appears that striving for nominal stability (stable NGDP growth) is a worthy objective for the Fed! https://marcusnunes.substack.com/p/how-can-you-talk-coherently-about
On the "two sided" credibilty issue, it seems: It appears that striving for nominal stability (stable NGDP growth) is a worthy objective for the Fed! https://marcusnunes.substack.com/p/how-can-you-talk-coherently-about