Last week’s IMF conference on Monetary Policy in the New Normal revealed a lot of disagreement on the key issue of where policy should be headed in the future. A dispute that broke out between me and Adair Turner is one example. I led off the first panel making the case that central banks should re-normalize rather than new-normalize monetary policy. At a later panel Turner, who headed the UK Financial Services Authority during the financial crisis, “very strongly” disagreed.
via Economics One | A blog by John B. Taylor.
