Thursday, September 27, 2007

Follow Mishkin

Frederic Mishkin has only been on the Board of Governors for about a year now, but in that time he's become an incredibly good barometer of Fed thinking. If you were trying to predict the outcome of the Sept 18th FOMC meeting, and all you had done was read Mishkin, you likely would have nailed it.

I've linked below to Mishkin's most relevant speeches since joining the Fed. The paper he gave at Jackson Hole on Housing and the Monetary Transmission Mechanism is the most important by far. It's long (55 pages) and a bit wonky, but well-worth perusing.

March 23, 2007: Inflation Dynamics, 8 pgs
April 10, 2007: Monetary Policy and the Dual Mandate, 4 pgs
May 24, 2007: Estimating Potential Output, 7 pgs
June 23, 2007: Globalization and Financial Development, 8 pgs
Sept 1, 2007: Housing and the Monetary Transmission Mechanism, 55pgs
Sept 10, 2007: Outlook and Risks for the U.S. Economy, 6 pgs
Sept 21, 2007: Will Monetary Policy Become More of a Science? 46 pgs
Sept 27, 2007: Globalization, Macroeconomic Performance, and Monetary Policy, 10 pgs

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