All multiplier estimates are nothing more than forecasts of central bank incompetence.
You can’t squeeze blood from a stone; you can’t squeeze consumption from Warren Buffett
If you aren’t targeting the forecast, you are expecting to fail.
Hellooooo . . . NGDP crashes cause financial crises . . . almost always.
The dual mandate: It’s not just a good idea, it’s the law.
and a bonus:
If I ever get sucked into Twitter it will mean: divorce – - -> unemployment – - -> mental institution – - -> endogenous money proponent.