Saturday, May 2, 2015
Summary Of IMF Conference On Rethinking Macro Policy
The IMF invited central bankers and some of the best economists in the world to its conference. Oliver Blanchard did an excellent job of summarizing the issues that were raised and he offered his opinions on some of the responses he received. There is as much confusion as there are solutions to the issues that discussed. Monetary policy is clearly at a cross roads. Fiscal policy is even in worse shape. There is more concern about reducing public debt than there is about increasing budget deficits to stimulate growth.