Paul Krugman, David Glasner, Miles Kimball, & Mike Konczal address the puzzle of John Taylor; from 2013-02-02: what is wrong with John Taylor’s claim that the Federal Reserve’s using monetary...
I think Taylor was just grumpy because the Fed was not manipulating rates the way HE wanted them manipulated.
Is this all that different from berating the Fed for r ≠ r* (as estimated by the berater?) :)
Yes. Exactly.
I think Taylor was just grumpy because the Fed was not manipulating rates the way HE wanted them manipulated.
Is this all that different from berating the Fed for r ≠ r* (as estimated by the berater?) :)
Yes. Exactly.