Broader lesson: Neither extreme is ideal - we want intermediate fiscal-monetary political power that aligns with economic conditions, including debt levels. Maintaining an independent central bank provides a way to achieve this outcome 👏👏 [11/12]
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I will just say that I have seen lots of discussions on twitter where I have to restrain mysellf from plugging his paper (e.g., https://x.com/HannoLustig/status/1828824091358564463)
Joe's a great guy and advocate and any department/place would be lucky to land him! [12/12]