There is a widespread consensus that the policy goals for any central bank should be set through the legislative and political process. But should there be one goal or several? Should the goals be fixed or changing? Should the legislative and political process both set the goals and also tell the central bank how to

Conversable Economist

25.06.2025

A Fed’s-Eye View of Labor Markets - Conversable Economist

Twice each year, the Federal Reserve is required to report to Congress, a process which involves both testimony from Fed Chair Jerome Powell and also the publication of the Monetary Policy Report, which comprises a broad statement of how the Fed is perceiving the US economy. The most recent report has a section on the

Conversable Economist

26.06.2025

The US Trade Balance With the EU: The Role of US Multinationals - Conversable Economist

Consider this international trade conundrum: Say that a US-based multinational provides technology and managerial know-how to a firm in Europe. The firm uses these inputs to produce goods, which are then exported back to the US economy. As a result, the European economy has a trade surplus in goods vis-a-vis the US economy. However, a

Conversable Economist

27.06.2025

Interview with Austan Goolsbee: Being at the Fed, House Prices, AI, and More - Conversable Economist

Tyler Cowen serves as interlocutor in "Austan Goolsbee on Central Banking as a Data Dog: The data-driven Fed President on why human judgment still matters in monetary policy" ("Conversations with Tyler," June 25, 2025, video, audio, and transcript). As Cowen notes, Goolsbee "had a long-standing teaching post at the University of Chicago, served in the Obama administration,

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New Zealand: The Birthplace of Inflation Targeting - Conversable Economist

A Fed’s-Eye View of Labor Markets - Conversable Economist

The US Trade Balance With the EU: The Role of US Multinationals - Conversable Economist

Interview with Austan Goolsbee: Being at the Fed, House Prices, AI, and More - Conversable Economist

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