How Monetary Policy Got Behind the Curve and How to Get Back

Is the Federal Reserve on the right track? How Monetary Policy Got Behind the Curve―and How to Get Back assembles experts to dissect the Fed's recent policy decisions and propose solutions for navigating today's economic turmoil.

Explore the debate surrounding inflation, interest rates, and the Fed's role in the COVID-19 recovery. This volume offers diverse perspectives on:

• The fiscal shock of the COVID pandemic
• The value of rules vs. discretion in setting Fed policy
• Lessons from history's federal expenditure spikes
• Strategies for disinflation

For economists, policy makers, and anyone seeking clarity on the future of US monetary policy, this is a crucial read.

Michael D. Bordo is a visiting fellow at the Hoover Institution, and a Board of Governors Professor of Economics and director of the Center for Monetary and Financial History at Rutgers University.

John B. Taylor is a senior fellow at the Hoover Institution, and the Mary and Robert Raymond Professor of Economics and director of the Introductory Economics Center at Stanford University.

John H. Cochrane is a senior fellow at the Hoover Institution, a research associate of the National Bureau of Economic Research, and an adjunct scholar of the Cato Institute.