Monetary Policy


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IMF, BIS, Expanded Mandates, Climate And Inequality

by John H. Cochranevia The Grumpy Economist
Monday, October 26, 2020

Last week I was pretty critical of the ECB's move to expand its mandate to take on climate policy. The ECB is not alone however. The Bank of England started down this direction. The IMF has also been a proponent, and the BIS is nodding assent.


Dallas Fed Global Perspectives With John B. Taylor

interview with John B. Taylorvia Dallas Fed
Friday, October 23, 2020
Hoover Institution fellow John Taylor discusses global economic perspectives concerning strategies and rulemaking.
Analysis and Commentary

Challenges For Central Banks.

by John H. Cochranevia The Grumpy Economist
Tuesday, October 20, 2020

On October 20, I was graciously invited to give a talk at the ECB Conference on Monetary Policy: bridging science and practice.

In the News

Remarks At The Hoover Institution

mentioning John B. Taylor, Hoover Institutionvia Federal Reserve
Wednesday, October 14, 2020

I want to thank John Taylor and the Hoover Institution for inviting me to speak today. I will start with some brief remarks about the current economic situation and monetary policy and then turn to the actions that the Federal Reserve has taken this year to help ensure that the banking system remains a source of strength during the recovery from the COVID event, the term I use for the complex set of responses in both the private and public sectors to the outbreak of COVID-19. 

In the News

The Most Dovish Fed In History Is On A Mission To Spur Inflation

quoting John B. Taylorvia Bloomberg Businessweek
Thursday, October 8, 2020

The central bank’s new policy framework tolerates above-target price increases. Now all we need is economic growth.

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Freefall: Larry Kudlow On Managing The US Economy In A Pandemic

interview with Larry Kudlow via Uncommon Knowledge
Wednesday, October 7, 2020

Larry Kudlow is the director of the National Economic Council, a position he has held since April 2018. As such, Mr. Kudlow was on the front lines of the COVID-19 crisis in its early days, trying to manage and maintain one of the strongest economies in US history and prevent it from falling into a catastrophic depression.

Analysis and Commentary

Debt Podcast And Reconciliation

by John H. Cochranevia The Grumpy Economist
Tuesday, September 15, 2020

 The Grumpy Economist podcast is back, with some thought on the debt issues from my last posts here and here.David Andofatto had some final thoughts at macro mania, with which I mostly agree. Yes a twitter/blog debate in macroeconomics produces agreement! 

The Grumpy Economist
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The Grumpy Economist: Slouching Towards A Debt Crisis

interview with John H. Cochranevia The Grumpy Economist | A Podcast with John H. Cochrane
Friday, September 11, 2020

With federal debt at 100% of GDP, a look at the potentially ominous consequences.

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GoodFellows: But Seriously, Folks . . .

interview with John H. Cochrane, Niall Ferguson, H. R. McMaster, Bill Whalenvia Hoover Podcasts
Friday, September 11, 2020


With summer over and Americans (in theory, at least) returning to work, school, and familiar routines, what lies ahead for the remainder of 2020? Hoover Institution senior fellows Niall Ferguson. H. R. McMaster, and John Cochrane examine what might ensue in the way of pandemic, economics, geopolitics, and a contentious presidential election.

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The Future Of Foreign Policy And Alliances

interview with Rand Paul, Kiron K. Skinnervia Fellow Talks
Wednesday, September 9, 2020

Senator Rand Paul and Hoover Institution fellow Kiron Skinner discuss The Future of Foreign Policy and Alliances.


Economic Policy Working Group

The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

Milton and Rose Friedman: An Uncommon Couple