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If The Fed Could Not Raise Inflation

Moneybox explains a ridiculous theory expounded by really smart economists like Cochrane, Galbraith, and Summers, about the impossibility of inflation. John Cochrane [is a conservative whose] opinion …about inflation is strangely widespread across ideological lines. He says that not only

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Posted in Macro

The Fed Needs A Better Dashboard

The Brookings Institution updated a good article  earlier this month showing the dashboard that the Federal Reserve leadership uses to steer the US economy using the “most important[¡¿]” measures.  This “array of gauges” gives useful information, but it lacks anything

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Posted in Medianism

One Unconventional Monetary Policy That The Conventional Wisdom Ignores

Let’s play word association.  If I say, “unconventional monetary policy,” what is the first thing that comes to mind?   If you are like most pundits and economists, you probably thought about phrases like quantitative easing, operation twist, NGDP targeting, large-scale

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Posted in Macro

The Fed Finally Adds Median Income To Its Data

I have given formal presentations about medianism in 4 different countries in 2014: the USA, Lebanon, Mexico, and now Canada.  Two weeks ago I presented at the Mennonite Economic Development Associates (MEDA) Convention in Winnipeg Canada. A lot of the

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Posted in Inequality, Macro, Medianism

Economic “Recoveries” Are Not benefitting the Median American

Pavlina Tcherneva tweeted a graph last month showing how the macroeconomic policy has increasingly left behind 90% of Americans.  @ptcherneva: I’d like to see the data that generated this graph because it has gotten a lot of attention and I’d

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Posted in Inequality, Macro, Medianism

How The Fed Could Help The People Rather Than The Banks

Foreign Affairs magazine recently published an article by Mark Blyth and Eric Lonergan about how central banks should use “helicopter drops.”  That means to increase the money supply by giving money directly to households rather than by loaning money by

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Posted in Macro, Medianism

Popularizing Monetary Policy

Three community organizing groups have, “come together to try to do something that hasn’t really been done before: grassroots lobbying of the Fed.”  The groups are Minnesota Neighborhoods Organizing for Change, Action United in Philadelphia, and the Center for Popular Democracy and

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Posted in Macro

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