Optimal Monetary Policy for the Masses

April 17, 2019

Presentation (pdf)

In a presentation at the 28th Annual Hyman P. Minsky Conference in Annandale-on-Hudson, N.Y., St. Louis Fed President James Bullard discussed his working paper on whether monetary policy can be conducted in a way that benefits all households even in a world with substantial income, financial wealth and consumption inequality. In the paper, nominal GDP targeting constitutes “optimal monetary policy for the masses,” he said.

March 28, 2019

Presentation (pdf) | Transcript (pdf)

Bullard also gave a presentation on this topic at the University of Wisconsin-Madison on March 28. For additional information, see his related St. Louis Fed On the Economy blog post, “Can Monetary Policy Benefit Everyone in Society?,” which was released the same day. (The paper and blog post are both co-authored with Riccardo DiCecio.)

Bullard’s previous presentations of “Optimal Monetary Policy for the Masses” are also available.

This video is from the April 17th event in Annandale-on-Hudson, N.Y.

Having trouble with the video? Watch it here.

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