In recent years, the political situation in the US has become highly polarized. But I'm not convinced that this necessarily prevents the two sides from coming together on monetary policy. Consider: 1. The idea of NGDP targeting has considerable (and growing) support on both the left and the right. 2. David Beckworth recently interviewed Matt Yglesias (who might be described as center-left), and at one point David read from a piece Yglesias wrote in 2011: Most important, for all the flaws in the right's current critique of the Fed, they're correct to point to the need for accountability. The idea of a central bank that's "independent" of day-to-day politics is a good one, but too often that's come to
Scott Sumner considers the following as important: Monetary Policy
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