John Taylor is blogging from Jackson Hole
Day 1: Skepticism of unconventional policy Academics say quantitative easing does’t do much. I happen to agree
Forward guidance Is “forward guidance” clarification of a rule, i.e. here is what we think we’ll feel like doing in the future, or a precommitment? To the Bank of England and ECB, the former.
This looks like an interesting series to watch.
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