BRIEFLY NOTED: For 2021-05-17 Mo

Highlighting this from two months ago. The Biden economic plan looks like it will allow the Federal Reserve to exit from the zero lower bound in a sustainable way. Isn’t that an enormous victory? What is going on here? J. Bradford DeLong: What Are the New Inflation Hawks Thinking?: ‘After so many years of hand-wringing over disappointing US economic growth, it is odd to hear prominent economists sounding the alarm about the mere possibility of inflation. If anything, we should want an economy in which a higher federal funds rate is warranted… LINK: <https://www.project-syndicate.org/commentary/american-rescue-plan-inflation-critics-fear-monetary-policy-normalcy-by-j-bradford-delong-2021-03>

Read →