See, despite all these market distorting moves the Fed has already done, economists are still arguing Bernanke is not doing enough. They continue to encourage him to communicate to the market - that he will do whatever he can to induce inflation until the people do it themselves. The thing is, Chuck Norris may continue promising the people he will beat them up unless they do as he wants, but if Chuck has no arms and legs, people are just going to wonder how he's going to make good on his promise.Read it at Rogue Economist Rants
Why NGDP targeting?
By Rogue Economist
(h/t Tom Hickey at Mike Norman Economics)
Still hoping that Inflation-Targeting Experiment May Start in Japan so that the US can recognize all of its faults before heading down that road.