Evan Koenig on the Case for Nominal GDP Targeting

Macro Musings with David Beckworth

Evan Koenig is a former senior aide to the president of the Dallas Fed. Evan returns to the show to discuss, the ins and outs of nominal GDP targeting, the practical applications of NGDP targeting, the reasons the Fed should consider it for the framework review, and much more.

Check out the transcript for this week’s episode, now with links.

Recorded on October 29th, 2024

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Timestamps:

(00:00:00) – Intro

(00:01:06) – Evan Koenig at the Fed

(00:02:04) – Nominal GDP Targeting

(00:06:22) – Why the Fed Didn’t Consider Nominal GDP Targeting

(00:17:25) – How to Explain Nominal GDP Targeting to the Public

(00:23:10) – Main Arguments for Nominal GDP Targeting

(00:33:52) – Practical Applications of Nominal GDP

(00:47:19) – Nominal GDP Targeting and the Fed’s Upcoming Framework Review

(00:50:57) – Outro