Claims about interest rates

Based on this analysis, I believe the appropriate fed funds rate is in the mid-2 percent area, almost 2 percentage points lower than current policy. The Federal Reserve has been entrusted with the important goal of promoting price stability for the good of all American households and businesses, and I am committed to bringing inflation sustainably back to 2 percent. However, leaving policy restrictive by such a large degree brings significant risks for the Fed’s employment mandate.

And there is this point:

Given that roughly 100 million Americans rent, net zero immigration going forward would imply 1 point lower rent inflation per year.

That is from Miran’s recent speech about monetary policy.  I do believe the speech is a useful guide for how some parts of the Trump administration are thinking about economic policy.  From my side, I view this as a highly inflationary monetary policy, pursued on the basis of a bunch of unconfirmed conjectures.

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