The Yawning Gap Between Bernanke-1999 and Bernanke-2012 on Appropriate Monetary Policy
A correspondent emails:
In his paper on Japan, BB explicitly said "a target in the 3-4% range for inflation, to be maintained for a number of years" would be a good idea for various reasons. Now he says that would be "reckless" [for the U.S. today]…
