nominal GDP

I am not going to do justice to the monumental change the Fed just instituted with the FOMC's policy statement yesterday but I am going to take a first stab at it here in this daily with a number of articles below to follow. Here's the crux…

A few hours ago I wrote a rather downbeat post on the prospects for the US economy that continued the thoughts from an article I wrote in the New York Times. A number of other sources have confirmed some of the logic behind that post since…

Down with the Eurozone - Nouriel Roubini - Project Syndicate For the last decade, the PIIGS (Portugal, Ireland, Italy, Greece, and Spain) were the eurozone's consumers of first and last resort, spending more than their income…

I don't have the bandwidth to discuss this topic but the last time I showed you a 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…

As the US is well short of full employment and the economy is at a low ebb, there has been considerable discussion about what the Fed should do, especially given the lack of fiscal support for the economy. I have a view here, but I am not…

The Fed could do a number of things: rate easing, municipal easing, inflation targeting, nominal GDP targeting. It is just that “the forward-looking cost-benefit analysis has shifted away from the potential benefits and towards greater…