Thursday , November 21 2024
Home / Dirk Niepelt / John Cochrane and Janet Yellen

John Cochrane and Janet Yellen

Summary:
On his blog, John Cochrane discusses the possibility of an alternative monetary policy regime in which the Fed tightly controls expected inflation. He states, repeatedly, that given our current understanding of the matter he would refrain from implementing such a regime if he became Fed chair (rather than stating that he would not currently advise to move in that direction). Given that Janet Yellen is expected to retire next year and John Cochrane is mentioned as a possible successor, I find the statement remarkable.

Topics:
Dirk Niepelt considers the following as important: , , , ,

This could be interesting, too:

Marc Chandler writes Sterling and Gilts Pressed Lower by Firmer CPI

Marc Chandler writes FX and Rates Unwind Yesterday’s Powell Effect, US Index Futures Slide

Marc Chandler writes FX Becalmed Ahead of the Weekend and Next Week’s Big Events

Marc Chandler writes Continued Backing Up of US Rates Extend the Greenback’s Gains

On his blog, John Cochrane discusses the possibility of an alternative monetary policy regime in which the Fed tightly controls expected inflation. He states, repeatedly, that given our current understanding of the matter he would refrain from implementing such a regime if he became Fed chair (rather than stating that he would not currently advise to move in that direction). Given that Janet Yellen is expected to retire next year and John Cochrane is mentioned as a possible successor, I find the statement remarkable.

Dirk Niepelt
Dirk Niepelt is Director of the Study Center Gerzensee and Professor at the University of Bern. A research fellow at the Centre for Economic Policy Research (CEPR, London), CESifo (Munich) research network member and member of the macroeconomic committee of the Verein für Socialpolitik, he served on the board of the Swiss Society of Economics and Statistics and was an invited professor at the University of Lausanne as well as a visiting professor at the Institute for International Economic Studies (IIES) at Stockholm University.

Leave a Reply

Your email address will not be published. Required fields are marked *