Monetary Non-Neutrality

I wrote a piece for the C.D. Howe Institute in April 2021, making the case that the Bank of Canada should keep the then-existing agreement with the government in place, without amendments, when the time came to renew the agreement. So, the time has come and, indeed, the new…
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Much like in the United States (as discussed in this post), events in Canada are not unfolding as envisioned by the central bank at the beginning of the…
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Events are not evolving as people on the FOMC envisioned last year, and the Fed is not currently achieving its goals. A slow and plodding approach isn’t…
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The Floor That's Not a Floor
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The floor that's not a floor.
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Answer: For one thing, they're thoroughly embedded in current monetary policy issues.
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The Fed’s new policy framework, as I outlined in a previous post, seems on the surface to be a quasi-average-inflation-targeting approach. Basically, in…
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There was nothing new in the statement from this week’s FOMC meeting, but I watched Powell’s press conference from yesterday, and I think there are some…
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Monetary Non-Neutrality

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