The Fed and the Great Recession

• Autores: Scott Sumner
• Localización: Foreign Affairs, ISSN 0015-7120, Vol. 95, Nº. 3, 2016
• Idioma: inglés
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• Resumen

  • The article discusses the monetary policy that could prevent a recurrence of the Great Recession of 2008, in which advantages associated with the switch to targeting the level of nominal gross domestic product (NGDP). Topics discussed include the role of monetary policy failure in major recessions, an overview of the U.S. housing crisis at the end of 2007 and reasons the Federal Reserve should stop targeting inflation.