Authors Glenn Hubbard and Tony O'Brien follow up on last week's podcast by discussing monetary policy in today's world. The Fed's role has changed significantly since it was first introduced. They keep an eye on inflation and employment but aren't clear on which is their priority. The tools and models used by economists even a decade ago seem outdated in a world where these concepts of a previous generation may be outdated. But, are they? LIsten to Glenn & Tony discuss these issues in some depth as we navigate our way through a difficult financial time.

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