Published Nov 9, 2009

Scott Sumner on Monetary Policy

Scott Sumner challenges traditional monetary policies by advocating for stable nominal GDP growth and critiquing the Federal Reserve's approach during the 2008 recession. He proposes innovative strategies like nominal GDP futures markets to enhance economic stability, emphasizing forward-looking policies over conventional inflation targets.

Episode Highlights

Topics covered

Episode Highlights

Related Episodes

Scott Sumner on Money and the Fed
Answers 383 questions
Scott Sumner on Money, Business Cycles, and Monetary Policy
Answers 383 questions
Scott Sumner on Growth and Economic Policy
Answers 383 questions
Scott Sumner on Interest Rates
Answers 383 questions
John Taylor on Fiscal and Monetary Policy
Answers 383 questions
John Taylor on Monetary Policy
Answers 383 questions
Tyler Cowen on Monetary Policy
Answers 383 questions
George Selgin on Monetary Policy and the Great Recession
Answers 383 questions
John Taylor on the Financial Crisis
Answers 383 questions
David Laidler on Money
Answers 383 questions
David Beckworth on Money, Monetary Policy, and the Great Recession
Answers 383 questions
Allan Meltzer on Inflation
Answers 383 questions
Steve Hanke on Hyperinflation, Monetary Policy, and Debt
Answers 383 questions
Robert Hall on Recession, Stagnation, and Monetary Policy
Answers 383 questions
John Taylor on Inflation, the Fed, and the Taylor Rule
Answers 383 questions

Dexa/Russ Roberts

Scott Sumner on Monetary Policy

Topics covered

Popular Clips

The Power of Monetary Policy

Monetary Policy Missteps

Future GDP Contracts

Monetary Policy Debate

Understanding Economic Perspectives

The Housing Crisis

Understanding Aggregate Demand

Rethinking Monetary Policy

Monetary Policy Insights

Understanding Macroeconomics

Rethinking Monetary Policy

Challenging Keynesian Arguments

Incremental Improvements

Understanding Inflation

Episode Highlights

Understanding Macroeconomic Concepts

Tools and Strategies of the Fed

Monetary Policy Missteps

Related Episodes

Scott Sumner on Money and the Fed

Scott Sumner on Money, Business Cycles, and Monetary Policy

Scott Sumner on Growth and Economic Policy

Scott Sumner on Interest Rates

John Taylor on Fiscal and Monetary Policy

John Taylor on Monetary Policy

Tyler Cowen on Monetary Policy

George Selgin on Monetary Policy and the Great Recession

John Taylor on the Financial Crisis

David Laidler on Money

David Beckworth on Money, Monetary Policy, and the Great Recession

Allan Meltzer on Inflation

Steve Hanke on Hyperinflation, Monetary Policy, and Debt

Robert Hall on Recession, Stagnation, and Monetary Policy

John Taylor on Inflation, the Fed, and the Taylor Rule

Scott Sumner on Monetary Policy

Topics covered

Popular Clips

Episode Highlights

Understanding Macroeconomic Concepts

Tools and Strategies of the FedScott Sumner examines the intricacies of monetary policy, emphasizing the importance of nominal GDP over traditional inflation measures. He critiques the Federal Reserve's strategies, proposing alternative approaches to enhance economic stability.

Tools and Strategies of the Fed

Monetary Policy MisstepsScott Sumner critiques the Federal Reserve's monetary policy during the 2008 recession, arguing it was too contractionary and backward-looking. He advocates for a focus on nominal GDP growth and forward-looking policies to better stabilize the economy.

Monetary Policy Missteps

Related Episodes