EconTalk: Conversations for the Curious is an award-winning weekly podcast hosted by Russ Roberts of Shalem College in Jerusalem and Stanford's Hoover Institution. The eclectic guest list includes authors, doctors, psychologists, historians, philosophers, economists, and more. Learn how the health care system really works, the serenity that comes from humility, the challenge of interpreting data, how potato chips are made, what it's like to run an upscale Manhattan restaurant, what caused the 2008 financial crisis, the nature of consciousness, and more. EconTalk has been taking the Monday out of Mondays since 2006. All 900+ episodes are available in the archive. Go to EconTalk.org for transcripts, related resources, and comments.
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episode 116: John Taylor on Monetary Policy
John Taylor of Stanford University talks about the Taylor Rule, his description of what the Fed ought to do and what it sometimes actually does, to keep inflation in check and the economy on a steady path. He argues that when the Fed has deviated from the Rule in recent years, the economy has performed poorly. Taylor also assesses the chances for a monetary or financial disaster and the Fed's recent expanded role in intervening in financial markets.