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Nominal GDP Targeting

Nominal GDP Targeting

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Nominal GDP Targeting

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  1. Nominal GDP Targeting

  2. Common View

  3. Money Supply Encourages Spending Money Demand Discourages Spending

  4. Nominal GDP = Total Current Dollar Spending = Money Supply × Money Use = M × V = P x Y

  5. How it Works Total Dollar Spending NGDP level target Time

  6. How it Works Total Dollar Spending NGDP level target Time

  7. WhAt Actually Happened

  8. WhAt Actually Happened

  9. WhAt Actually Happened

  10. Expectations Matter

  11. Expectations Matter Average Expected Inflation Over Next Five Years Source: FRED Databse

  12. The Rest of the Story Source: FRED Database

  13. The Rest of the Story Source: FRED Database

  14. HelpIng Savers Source: Philadelphia Fed Survey of Professional Forecasters, FRED Databse

  15. HelpIng Savers Source: SIFMA

  16. HelpIng Savers Source: SIFMA