I don’t have the bandwidth to discuss this topic but the last time I showed you the first Scott Sumner video on this, I said this would be a hot topic and it is now. Brad DeLong, Paul Krugman, and Christina Romer, amongst other leading economists have since come out in favour of nominal GDP targeting at the Fed. I am going to have to defer getting in on this again. But I have tried to present the differing views on this in the links in lieu of pushing one view myself. Expect more links in the weeks ahead.