What Marvin Goodfriend Brings to the Federal Reserve

The video discusses the economic stance of a new governor, highlighting his alignment with new Keynesian economics and his preference for a single mandate focused on inflation. It explores the idea of setting an inflation target by law and using a rules-based framework for the Fed's policy decisions. Marvin Goodfriend's critique of the Fed's actions during the Great Recession, including his opposition to quantitative easing and support for negative interest rates, is also covered.

What is the governor's view on quantitative easing (QE)?

What unconventional monetary policy does the governor support?