The Fed Must Adopt a Monetary Policy Rule
Jai Kedia and Norbert Michel The Federal Reserve is scheduled to conduct its five-year monetary policy framework review in 2025, barely two years after one of the nation’s worst bouts of inflation. The review is the perfect opportunity for the Fed to take a bold step toward objective policymaking that could protect Americans from future policy mistakes, such as those that led to the post-COVID pandemic inflation spike. To take this step, the Fed’s review should include an examination of monetary […]