Matthew Sumner? Scott Yglesias?

These days, it’s getting harder and harder to tell!

It seems to me that the best way to deal with this problem would be to say that you want the recent past of monetary policy to be reinterpreted as targeting a level rather than a rate and what you want to do now is catch-up to the previous trend. That seems about as credible as “we’ll pursue a low inflation target forever, irrespective of the consequences.”

If only Krugman were so concise.

3 thoughts on “Matthew Sumner? Scott Yglesias?

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