From the latest Kauffman Economic Outlook, a quarterly survey of economic bloggers, we find this figure:
Too bad bloggers cannot run the Fed. At least we have changed the conversation so that the Fed is talking about NGDP targeting.
P.S. A note to those bloggers who want the central bank to target repo rates. If a central bank successfully adopts a NGDP level target, then many of the problems surrounding repos and interbank lending would disappear.
This post originally appeared at Macro and Other Market Musings and is posted with permission.
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