The Federal Reserve’s Charles Evans entered the lion’s den of monetary orthodoxy to make his pitch: unemployment must come down, even at the cost of temporarily higher inflation.
If I were to learn on Dec. 31 that my taxes are going up next year, I would do ... absolutely nothing.
The U.S. economy is likely to experience a period of stagnation until the country reduces its debt, according to Edward Prescott , senior monetary adviser to the Federal Reserve Bank in Minneapolis.
Thomas J. Sargent and Christopher A. Sims richly deserve the Nobel Memorial Prize in Economic Sciences they were awarded this week for their seminal work in the fields of macroeconomics and time series econometrics.
"The whole world's going to be rich by the end of this century."
- Edward Prescott on Jan 23, 2011