I think I might have to start rooting for Bob Murphy in all subsequent Murphy-Sumner clashes, simply on principle (and by "principle" of course I mean "spite").
When the Fed adopts an NGDP level target I might call that Scott Sumner Day.
When the Fed takes four years of grinding depression to enact something approximating good macroeconomic policy that we've known about for almost two centuries, I'm not going to toast Scott Sumner.
And as I've pointed out several times now, the fact that Scott seems intent on convincing the world that people who want monetary expansion actually don't want it, that makes it harder - not easier - to get policy makers to be expansionary.
Friday Night Music: When I’m 64
1 day ago