September 26, 2018

More Non-Star Metrics for Monetary Policy

David Beckworth

Senior Research Fellow

In an earlier post and Bridge article, I discussed some ways to use nominal GDP (NGDP) as a cross-check on the FOMC "navigating by stars" of r*, u*, and y*. The motivation for these pieces was Fed Chair Jay Powell's concerns about the challenge of using these star variables when they seem increasingly in flux...

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