Episode notes
Episode Notes: Allan Meltzer and the Quest for a Nominal Anchor
Read more- Introduction:
- Topic: Allan Meltzer's contributions to monetary economics.
- Objective: Delve into his views on the importance of a nominal anchor in U.S. monetary policy.
- Understanding Nominal Anchors:
- Definition: Policy tools used by central banks to guide inflation expectations.
- Purpose: Convey central bank's commitment to low and stable inflation.
- Historical Context: Brief mention of the various anchors used by the Federal Reserve.
- Allan Meltzer's Perspective:
- Inflationary Periods: Reference to the inflation spikes of the 1970s and ...