Monetary Policy: Rules vs. Discretion with John B. Taylor: Perspectives on Policy

Sound monetary policy is essential for strong economic growth and stability. Monetary policy is often only noticeable when the Federal Reserve gets it wrong, as it has several times in recent history. In order to get it right, it helps to follow a rules-based policy instead of one based on discretion.

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Additional resources:

Read John Taylor’s chapter “National and International Monetary Reform” in Blueprint for America here:

Read The Taylor Rule and the Transformation of Monetary Policy, available here:

Read Rules for International Monetary Stability: Past, Present, and Future by Michael D. Bordo and John B. Taylor, available here:

Read “Unconventional Monetary Policy, Normalization, and Reform” by John Taylor, available here:

Read “A New Opportunity for Monetary Reform” by John Taylor, available here:

Read “Central Bank Models: A Key to Future Monetary Policy” by John Taylor, available here:

John Taylor discusses United States wage growth, inflation, and the Federal Reserve's rate path, available here:

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