Thursday, January 26, 2012

Twin Premieres (cps)

In case you haven't gotten the news from anywhere else: For the first time in history (drumroll), the Fed announced an explicit inflation target, so finally, we can fill the blank space in its assumed loss function.

As to the second premiere: This is my first post on this blog (or any blog for that matter), so hello everyone. Maybe I can at some point fill in for my "predecessor" fg—let's hope it'll take me a little less than the 98 years it took the Fed to become concrete.