Report by David Beckworth on NGPDLT

If you’re reading this, you know that NGDPLT stands for Nominal GDP Level Targeting, and that I believe it should be the foundation of Fed policy and the way to automate monetary policy. That goes for the UK as well (Europe has other structural problems they need to address before fixing their monetary policy). If you need to catch up, read my short description of NGDPLT monetary policy and a keynote address.

Now, David Beckworth of the Mercatus Center has published an important report that I hope you will read from start to finish:

Facts, Fears, and Functionality of NGDP Level Targeting: A Guide to a Popular Framework for Monetary Policy