Federal Reserve System

The Nominal GDP Debate Actually Matters

The Nominal GDP Debate Actually Matters

OK, this is going to be a little wonky (actually, a lot wonky):  Over the past several months there has been a debate in macroeconomic circles on whether the Federal Reserve should use target growth rates in nominal Gross Domestic Product (i.e., change in GDP without adjusting for inflation)to establish its monetary policy.  The thinking […]

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