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The Fate of FAIT: Salvaging the Fed's Framework
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David Beckworth &
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Patrick Horan
 



In August 2020, the Federal Reserve adopted a new monetary policy framework called Flexible Average Inflation Targeting (FAIT) to keep inflation close to 2 percent on average. This framework, however, has come under intense scrutiny for its failure to prevent the 2021–2022 inflation surge. David Beckworth and Patrick Horan argue that the Fed can improve FAIT by applying the properties of a nominal GDP-level target (NGDPLT), which targets the total dollars spent on final goods and services within the United States.


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RESEARCH

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The Role of Institutions and Policy in Balancing Privacy and Information Sharing in the Digital Economy

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Tracy C. Miller




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Reza Aslan on Martyrdom, Islam, and Revolution
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Conversations with Tyler

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Bill Nelson on How Bank Examiner Preferences are Obstructing Monetary Policy
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Macro Musings

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Entrepreneurship as an Academic — Peter Boettke & Scott Beaulier Hayek Program Podcast

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Britain Is Broken and a New Conservative Prime Minister Won’t Fix It

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Luke Hallam

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China’s Threats Make Taiwan’s Dominance of Chip-Making Risky for the Rest of the World

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David Masci &
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Christine McDaniel

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BUSINESS & ECONOMICS




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Out of the Pandemic Mud

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Tina Marsh Dalton

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BUSINESS & ECONOMICS




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A Cost-of-Living Adjustment for Social Security

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Charles Blahous

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C-SPAN


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Are You Down on the American Economic System? Think About Cooperation.

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Veronique de Rugy

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CREATORS SYNDICATE


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Wolves and Word Choice: Outsiders try to Decode China’s 20th Party Congress

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Christine McDaniel (Featured)

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SOUTH CHINA MORNING POST








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