Scott Sumner on Monetary Policy

The Not Unreasonable Podcast

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Scott Sumner is the Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center at George Mason University and blogger at themoneyillusion.com and econlog and author of two books: The Midas Paradox and more recently, The Money Illusion.
Scott came to prominence because his work on the Great Depression (published in Midas Paradox) gave him analytical superpowers for understanding the Great Recession in real time in 2008 and 2009 and beyond and in retrospect. We've seen the monetary policy establishment move closer and closer to the views Scott has been trying to talk them into for over ten years.
Scott is one of those people who understands some very deep things about a very challenging subject. We can all learn from Scott!
In the conversation we cover:
- How might he design crypto monetary policy?
- What matters more, revenue or wages?
- Where does monetary policy end and fiscal policy begin?
- Why isn't the fed more politicized?
- How does Monetary Policy really work? How are inflation expectations set and how do they really matter?
- NGDP targeting and how Scott's view has changed on it
Show notes:
https://notunreasonable.com/2021/11/26/scott-sumner-on-monetary-policy/

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