The Fed Focus will turn from inflation to one of unemployment if Musk and Ramaswamy have their way to cut 2 Trillion from the federal budget, and if deportation and tarrif applications are enacted.
I don't think Powell is the problem. The pandemic was. Right now the US is by far in better shape than most places, although there are many structural problems here. But none of those are really subject of monetary policy. Rules based monetary policy does not work any better. Rules are thought by people, and are things flawed also. And economic structures change which eventually make rules untenable. There is no magic bullet.
- an individual who would replace the current seat-of-the-pants policy making with rules-based measures -
One can only hope.
The Fed Focus will turn from inflation to one of unemployment if Musk and Ramaswamy have their way to cut 2 Trillion from the federal budget, and if deportation and tarrif applications are enacted.
I don't think Powell is the problem. The pandemic was. Right now the US is by far in better shape than most places, although there are many structural problems here. But none of those are really subject of monetary policy. Rules based monetary policy does not work any better. Rules are thought by people, and are things flawed also. And economic structures change which eventually make rules untenable. There is no magic bullet.