Monetary policy should have only the single goal of price stability because it cannot influence real variables in the long run or fine-tune the cycle, and by pretending it can do more it introduces uncertainty into the world; other levers (tax rates, etc.) should handle the real economy.
normativepending
Speaker
Michael BelongiaEvidence Quote
“the only thing that monetary policy can deal with is price stability”
Created: 6/15/2026, 9:37:51 AM
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