Brad DeLong links to FRB Chicago president Charles Evans calling for more aggressive monetary policy actions to reduce unemployment - including letting inflation rise above the Fed's 2 percent target in the near term. Apparently the FOMC is sharply divided between the "doves" like Charles Evans and the "hawks" like Naryana Kocherlakota who believe that a more expansionary monetary policy would let loose the dogs of inflation. There are two vacant seats on the Board of Governors. President Obama, fill them with economists who think like Charles Evans!
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President Obama, send Charles Evans some help now!
Wednesday, May 30, 2012
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Charles Evans,
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Naryana Kocherlakota
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