Report Detail Summary

Transparency and Rule-Based Monetary Policy

August 24, 2015

The data shows that in the years immediately after the crisis, the correlation between inflation and real GDP is a negative one, as expected. However, as the economy recovered, Helicopter Ben re-morphed into a Phillips curve Keynesian. The Yellen Fed, as suggested by Mr. Lockhart’s interview, lends support to the view that the Fed is operating on a Phillips curve basis.

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The ValueTiming™ strategy is based on the assumption that politicians and policymakers have particular views of the world, and that they will in general adopt policy measures that are consistent with these views.


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