I´m not being ironic!
If only the Fed "prayed on the NGDP level target altar", instead of the "boos" we hear, the applause would be deafening!
between "supply driven" & "demand supported"
What does the experience of other countries tell us?
where, more recently, the contrast between "slow" & "fast" is also apparent
which matches with the contrast between "bad" & "good" monetary policy
but even the 1970s evoke different experiences among countries
but rather if the Fed can provide a "smooth" ride going forward
Not quite rid of the pandemic, another S shock comes along to tax the Fed
The Fed should know this
Moving away from the focus on prices
with "money" properly measured