Thank you so much for writing this post, it summarises well some of the thoughts I’ve had regarding monetary and fiscal policy, especially your analysis on effects on poorer countries. I’m reminded of this chart I saw of economists’ inflation CPI forecasts vs reality. It’s clear to me they are asleep at the wheel, blindly trusting central banks to control it down to the arbitrary 2% number...
JamesChe
Karma: 8
A few weeks ago, I tried to find a Chinese version of “A life you can save” or “Doing good better” to send to my parents. I was so surprised to find that no one has translated them yet. This is a great start!
I found your discussion very interesting. Curious to know if you have any updated thoughts on this two years on. For me, I tend to agree with Wei Dai’s comment below, that the federal reserve and government working closely together is a synthetic form of MMT. Would you say that Japan’s “yield curve control” (pegging interest rates with unlimited money printing) is demonstrating that they are going down the MMT route? And what about Europe’s transmission protection instrument to peg Italian bonds?
Curious to know if the massive inflation numbers have changed your mind about whether the central banks have handled covid better than 2008.
Great spotlight Akhil! Do you think improving existing AMR diagnostics would also have synergies with improving the early detection of pandemic pathogens?