Today´s 'lack of confidence' by Fed reminds me of some of the obsessions & disorientaion of the past.
thefaintofheart.wordpress.com/2013/08/18/obs…

The future is strongly dependent on your understanding of the past.
Ááron Sepúlveda-Cué EconstratPB Alex Schibuola
A simple illustrated story of the US economy so far in the 2020s, by NGDP Advice-Marcus Nunes open.substack.com/pub/marcusnune…

DSGE models -- a total waste of time larspsyll.wordpress.com/2024/05/17/dsg… via @LarsSyll

DSGE models -- worse than useless larspsyll.wordpress.com/2024/05/20/dsg… via @LarsSyll

Full article: Cordon of Conformity: Why DSGE Models Are Not the Future of Macroeconomics (tandfonline.com)

'The DSGE model is a model in which output is determined in the labour market as in New Classical models and in which aggregate demand plays only a very secondary role, even in the short run.'
DSGE models — a total waste of time | LARS P. SYLL (wordpress.com)

The Fed´s “distorted view” could be the harbinger for consequential errors, which will then lead to the rise in unemployment B&B “preconize”!
The Phillips Curve mentality lives on - by Marcus Nunes (substack.com)
George Selgin Ááron Sepúlveda-Cué

BB & Blanchard
As the effects of s shocks have subsided, tight labor markets, and the resulting rises in nom w, have become more important sources of inflation in many countries. Curbing wage inflation and returning infl to target may require a period of higher unempl.
T or F?

Money matters much more than you might think!
thefaintofheart.wordpress.com/2014/05/28/mar…

Is macroeconomics really economics? Robert Higgs asks
thefaintofheart.wordpress.com/2013/08/15/rob…

When official inflation targeting was 'born' 12 years ago, some thought it was 'dead'! Unfortunately not!
thefaintofheart.wordpress.com/2012/05/18/a-l…

Just as in 08 BB´s inflationphobia was driven by oil prices, JP´s 'lack of confidence-induced' inflationphobia is driven by OER!
Since the only element Harmonized CPI excludes is OER (a 'made-up' number), that´s the only thing that separates Core CPI from 2%! AlanReynoldsEcon

We are very close to attaining Nominal Stabilty. That is the only stability that matters, not least because it leads to both real output and inflation stability.
Ááron Sepúlveda-Cué EconstratPB Alex Schibuola
marcusnunes.substack.com/p/the-fundamen…

Barkin'-up the wrong tree!
Barkin told reporters after his speech he was more worried about the risk that inflation runs too high for too long than about the economy unduly weakening.
bloomberg.com/news/articles/…

What would lead Powell & the Fomc to gain confidence?
Alex Schibuola Ááron Sepúlveda-Cué EconstratPB Michael Sandifer Patrick Horan☘️✝️ Alan Cole
marcusnunes.substack.com/p/the-pathway-…

An 'upside-down' world!

The Fed´s obsession with inflation can get the economy into trouble.Ááron Sepúlveda-Cué Alex Schibuola EconstratPB James Young
marcusnunes.substack.com/p/when-the-fed…

The two longest expansions were the result of an adequate monetary policy...
marcusnunes.substack.com/p/monetary-pol…

Written 10 years ago when inflation targeting (IT) was being contested, and by not moving away from 'it' the Fed is once again in dire straits!
marcusnunes.substack.com/p/it-plt-and-n…

I left the “FOMC band” out of the play because, especially in Act 4, it has been doing the right thing but is unaware of this, which makes the “Band” dangerous, in the sense that it may easily do something wrong!
marcusnunes.substack.com/p/the-economy-…