Tuesday, September 10, 2013

barry barry eichenloop does a funny

"Many economists are accustomed to thinking about Federal Reserve policy in terms of the institution’s dual mandate, which refers to price stability and high employment, and in which the exchange rate and other international variables matter only insofar as they influence inflation and the output gap"

" which is to say, not very much."

"   This conventional view is heavily shaped by the distinctive circumstances of the last three decades when
 the influence of international considerations on Fed policy
                                                                                                 has been limited."

limited ?

the last three decades have been flex forex decades