Friday, July 11, 2014

conservative macro

Is the Fed Behind the Curve? by Cecchetti and Schoenholtz

John Taylor believes in the concept of resource slack. As do those who argue there's no longer slack in the economy.

commenter gman:

size of bond market is much larger than stock market

CHART: The 10-Year US Treasury Note Yield Since 1790


4 percent is normal or goal of the Fed?

Actually goal is minimal inflation and unemployment.

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