Opening the New York Fed’s 2010 Blackbooks

The transcript discusses the Federal Reserve's economic concerns in 2010, focusing on inflation and deflation dynamics. It explores policy proposals, including quantitative easing (QE) and price-level targeting. The New York Fed's influence is highlighted, along with counterfactual scenarios regarding economic outcomes. The discussion reflects on the Fed's strategies and the potential impact of different approaches.

What was the significance of the New York Fed's briefings for the FOMC meetings?

What were the main concerns regarding inflation at the beginning of 2010?

How did the Greek debt crisis influence the Federal Reserve's concerns in 2010?

What were the recommendations made by the New York Fed staff in September 2010 regarding the balance sheet?

How did the Federal Reserve's approach to QE evolve from 2010 to 2012?

What is the difference between price-level targeting and the current inflation targeting used by the Fed?

What were the implications of the Fed's decisions on inflation targets for the economy?