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Kathleen Hays: John Taylor Rule Will Support Central Banks in Face of Political Pressure

Rogoff Paper Says Central Bank Rules, Independence to Come Under Fire. Welcome to Central Bank Central. I'm Kathleen Hays. An article in Project Syndicate just in the last week or so caught my attention. Ken Rogoff, who is a professor of economics and public policy at Harvard University, he was an economist at the International Monetary Fund at the Federal Reserve Board of Governors at one time, but someone who gets listened to a lot is talking about rules, rules-based monetary policy and how they perhaps aren't going to work any longer. He says, You know, for the past four decades, there were a lot of forces pushing down on inflation and those are going away. And that is going to make a very big difference. And as soon as I saw that, I said, I know who I have to call. I have to call maybe the king of central bank rules. And that is John Taylor. John, of course, is a professor of economics at Stanford University. He's the George Shultz professor of economics at the Hoover Institution.

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Posted: June 5, 2024 Wednesday 12:56 PM