Fed Is on to a 'New Kind of Policy,' Stanford's Taylor Says

The video discusses the Federal Reserve's shift from using the term 'accommodative' as it normalizes policy. It explores the concept of the neutral rate, which is debated as being imprecise and variable. The Fed's systematic approach under Jay Powell is highlighted, along with the challenges of reaching a consensus on policy direction. The video also addresses political influences on the Fed, particularly criticisms from President Trump, and concludes with a discussion on the Taylor Rule and interest rate targets.

In what ways has President Trump's criticism of Jay Powell's interest rate decisions impacted public perception of the Fed's independence?

Discuss the potential effects of tax reform and regulatory changes on the economy as mentioned in the text.