Battered but Not and Beaten
Grandmothers Raising Grandchildren Annual Fundraiser

John Taylor vs. John Taylor

John Taylor, 2010:

[T]he Federal Reserve's large-scale asset purchase plan (so-called "quantitative easing") should be reconsidered and discontinued. We do not believe such a plan is necessary or advisable under current circumstances.... [I] disagree with the view that inflation needs to be pushed higher, and worry that another round of asset purchases, with interest rates still near zero over a year into the recovery, will distort financial markets...

John Taylor, 1994:

[A] good policy allows a speedup in growth above potential GDP growth after a recession.... The faster growth in the United States compared with that in Europe just after the 1982 recession is an example of such a better policy.... [O]ne rule I have found attractive has the federal funds rate adjusted up if GDP goes above target or if inflation goes above target, and vice versa...

You can't consistently be for policies of monetary ease strong enough to make nominal GDP catch up to its pre-recession growth path in 1994 and against them in 2010. At least, I don't see how you can.

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