Fed: “Monetary Policy and the Output Gap”
January 6, 2015 5:00am by
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Which Scientific Ideas Should be Abandoned?
That was immensely stupid and completely miss the obvious conclusion. This guys model suggest that current Fed rate is about 2% below where it “should” be. The fact that the economy is not super overheated would clearly suggest that his model is missing something important. Instead he concludes that we should follow his model and ram rates up to 2% killing the current recovery because that is what his model say we should do. Come on take a science 001 class; when reality clash with your model you revise the model (not reality).