In a story examining the difference between political hawks and doves and how each viewpoint may affect current economic policy, Marketplace turns for comment to Dartmouth’s David Blanchflower, the Bruce V. Rauner Professor of Economics.
According to Marketplace, policy-making hawks are focused on inflation, while the doves are more concerned about the labor market. Blanchflower tells Marketplace that regardless of whether one is a hawk or a dove, a good Federal Reserve policymaker must keep an open mind.
“When the economy gets back to normal, and when we start to see a rise in inflation eventually, then the focus will have to move away from the employment part of the mandate to the inflation part of the mandate,” Blanchflower says.
Listen to the full story, broadcast 11/13/13 on Marketplace.