Economy: Economic News, Policy & Analysis - The Washington Post: Michael Woodford: ‘I personally would have gone further but what [the Fed] did is definitely a step in the right direction.’

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Michael Woodford: 'I personally would have gone further but what [the Fed] did is definitely a step in the right direction.' Sep 15th 2012, 13:00 Michael Woodford is the John Bates Clark Professor of Political Economy at Columbia University. He received one of the first MacArthur "genius grants" and is considered the world's preeminent monetary economist. His paper at the central bank retreat in Jackson Hole, Wy. advocating a policy called "nominal GDP targeting" caused a stir in the profession and was commented upon by Fed chairman Ben Bernanke following the announcement of the latest round of quantitative easing Thursday. We spoke Friday. A lightly edited transcript of our conversation follows. Read full article >>

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