Lael Brainard´s speech on the Fed´s new “longer-run goals and strategies makes reference to a “New Normal”: [I only highlight her references to the labor market] “The new statement on goals and strategy responds to these features of the new normal in a compelling and pragmatic way by making four important changes. First, the statement […]| Historinhas
The first thing to note is that inflation is not a price phenomenon (don´t reason from a price change is relevant here), but a monetary phenomenon. For example, changes in relative prices (due to a…| Historinhas
