Jeremy Stein

In the wake of the financial crisis, some US policy makers understood that the economics profession had erred in not taking debt aggregates and financial stability into account when conducting macroprudential regulation and making economic…

Comments by top Federal Reserve officials support the idea that the Fed is going to move away from quantitative easing as a policy tool and lean more heavily on forward guidance. There are a number of reasons for this, not the least of…

I believe policy makers at the the Federal Reserve have soured on the marginal effectiveness of quantitative easing as a primary tool for monetary policy. As interest rate policy is still not effective with the policy rate at zero, forward…

Federal Reserve Governor Stein: The traditional, pre-crisis framing of the question went something like this: Should policymakers rely on ex ante measures to lean against potential financial imbalances as they build up, and thereby lower…