Posted inIsrael, Middle East

Stanley Fischer resigns from the Federal Reserve, presumably to look for inflation

Federal Reserve Vice Chairman Stanley Fischer ended a distinguished career (including the presidency of the Bank of Israel) on something of a sour note. He was the last true believer in the inflation-is-around-the-corner argument and on the Fed’s macroeconomic models. In a March 2017 speech, Fischer stated: Estimated Phillips curves appear to be flatter than […]