by Michael D. Bordo , John H. Cochrane , John B. Taylor
Tired of feeling like your business strategy is at the mercy of unpredictable interest rates and sudden inflation? You are not alone. When central banks rely on gut feelings instead of hard rules, economic chaos follows.
In today’s briefing, we dive into “Getting Monetary Policy Back on Track” by economic heavyweights Michael D. Bordo, John H. Cochrane, and John B. Taylor. We unpack the critical difference between chaotic discretionary policy and predictable rules-based systems, like the famous Taylor Rule. Discover the secret behind the “Great Moderation,” what caused our recent inflation spikes, and how understanding these mechanics can help you stop reacting to financial pundits and start planning with absolute confidence.
Enjoyed this? Our 18-minute premium deep dive goes much further. We break down the Fiscal Theory of the Price Level, the historical pivot points where central banks lost control, and the three exact indicators you must watch to anticipate the Fed’s next move. Upgrade to Premium now to unlock the full summary and bulletproof your business strategy.
Michael D. Bordo is an eminent economist and the Board of Governors Professor of Economics at Rutgers University, where he directs the Center for Monetary and Financial History. As a Distinguished Visiting Fellow at the Hoover Institution and a top-ranked global economic historian, he is a leading …
John H. Cochrane is an eminent economist and the Rose-Marie and Jack Anderson Senior Fellow at the Hoover Institution. Formerly a professor at the University of Chicago, he is a leading authority on macroeconomics and monetary policy. He is best known for developing the fiscal theory of the price …
John B. Taylor is a renowned economist and the Mary and Robert Raymond Professor of Economics at Stanford University. He is widely recognized for developing the Taylor Rule, a central framework used by central banks worldwide to determine interest rates. An authority on monetary policy, Taylor …
Turn these ideas into a 5-minute daily leadership workout. LeadRight quizzes you on the best books and makes the lessons stick.
Start free in the app