5 results for:

Scott Sumner

Author Biography

Scott Sumner has taught economics at Bentley University for 27 years. He studies monetary economics, focusing on the role of the gold standard in the Great Depression. He also blogs on economic issues at TheMoneyIllusion.

Email Scott Sumner

• The Fed's Monetary Policy Has Veered Off Course

  Although the risk of deflation has receded in recent months, Fed policy is still too contractionary for the needs of the economy, as the money supply has not kept up with increases in money demand. Two percent inflation is the goal Both Lee Ohanian and I have published papers arguing that,...

  Blog posts | Jun 30, 2009

• Deflation is Our Biggest Worry -- Not Inflation

  Many economists are worried about high inflation over the next few years. This is based on a misdiagnosis of the current economic crisis. Although the recession officially began in December 2007, until last August the damage was mostly confined to housing and finance. In August 2008, the...

  Blog posts | Jun 26, 2009

• We Need Inflation to Spur a Recovery

  Lee Ohanian makes a very persuasive argument that zero percent inflation does not harm an economy. Sometimes that's true, but I don't think it's the case this time. Because we are all consumers, we naturally think lower prices are good. Yet the U.S. just experienced the lowest inflation in 58...

  Blog posts | Jul 2, 2009

• Fed Policy On Inflation: As Good as It Gets

  Scott Sumner argues that the Federal Reserve erred in not expanding the money supply even more than it did last fall, and that monetary policy caused the financial crisis to worsen and our economic crisis to deepen. He suggests that a two percent inflation rate would be superior to the current...

  Blog posts | Jul 1, 2009

• No, Inflation Is Not the Key to This Recovery

  Scott Sumner is a leading advocate of having the Fed increase inflation from its current rate of about zero to two percent. He forcefully argues that if this could be achieved, then our economy would improve substantially. But in my view, a small increase in inflation wouldn't improve economic...

  Blog posts | Jul 2, 2009