Federal Reserve Chair Kevin Warsh has publicly embraced key monetarist principles, marking a significant departure from his predecessor’s approach and reigniting a decades-old debate about the role of money in economic policy.
Federal Reserve Chair Kevin Warsh has publicly embraced key monetarist principles, marking a significant departure from his predecessor’s approach and reigniting a decades-old debate about the role of money in economic policy.
Call it a monetarist shift when actual money-supply targets show up — otherwise it’s a speech and a costume change. Spare me.