Professor says Fed must defend its post-Covid credibility
Jackson Hole speaker Emi Nakamura talks credibility, tariffs and independence
The post-pandemic inflationary surge means the US Federal Reserve needs to stay on its toes to maintain its credibility, says Emi Nakamura, professor of economics at the University of California, Berkeley.
Nakamura presented a new paper, Beyond the Taylor Rule, on August 23 at the Federal Reserve Bank of Kansas City’s closely followed Jackson Hole research conference.
The research – co-authored with Venance Riblier and Jón Steinsson – argues that central banks with strong credibility, such as the
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