+ 100:

> Thomas L. Hutcheson: "And now that real growth is likely to fall off, we need to stay above 2% per year inflation more than ever." An NGDP target of 5% would do the trick in practice, 4% if the Fed were doing _Flexible_ NGDPL targeting. We REALLY DO need the Treasury to start issuing that Trillionth and more intermediate TIPS so the Fed cal fly less in the dark about market expectations...