BROADCASTS.com

b"In this week\\u2019s episode in front of a live audience, Scott Sumner, the director of the Program on Monetary Policy at the Mercatus Center and blogger at *The Money Illusion,* returns to the show to share his thoughts on the Federal Reserve\\u2019s performance from the Great Recession to the present. Scott explains how forecast targeting and price level targeting could have mitigated the economic decline in 2008 and 2009. He also shares his thoughts on how the cognitive biases of central bankers can cause them to make mistakes in evaluating the stance of monetary policy and offers some solutions to address this problem. Note: this episode was recorded as part of a special Mercatus Center event in June 2017. David\\u2019s Twitter: @DavidBeckworth David's blog: macromarketmusings.blogspot.com Scott\\u2019s Mercatus profile: https://www.mercatus.org/scott-sumner Scott's blog: www.themoneyillusion.com/ Related links: *The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression* by Scott Sumner https://www.amazon.com/Midas-Paradox-Financial-Government-Depression/dp/1598131508 \\u201cNudging the Fed Toward a Rules-Based Policy Regime\\u201d by Scott Sumner https://www.mercatus.org/publication/nudging-fed-toward-rules-based-policy-regime \\u201cDemystifying the Fed\\u201d by Scott Sumner https://www.usnews.com/opinion/economic-intelligence/articles/2017-07-10/the-federal-reserve-needs-to-learn-from-its-monetary-mistakes \\u201cInflation Forecasting Targeting: Implementing and Monitoring Inflation Targets\\u201d by Lars Svensson http://www.nber.org/papers/w5797"