Institutional Investor (September 5)
2012/ 09/ 07 by jd in Global News
GDP targeting may be “the real message from Jackson Hole.” At this annual meeting of central bankers a paper presented by Michael Woodford advocated GDP targeting. “The Fed has already promised to keep rates low through 2014, but if it were to switch gears, it would instead promise to keep rates low indefinitely, until nominal GDP, or GDP adjusted for inflation, was showing clear signs of a recovery.”
Tags: Central bankers, Fed, GDP targeting, Inflation, Interest rates, Jackson Hole, Michael Woodford
