### Comment:
The Fed can control NGDP. That's just how monetary policy works. We just inefficiently use an inflation target rather than an NGDP target. The academic support for NGDP targeting is growing, and it'll probably be the next innovation in monetary policy in the next recession (like QE was rolled out last recession).  
  
 And the folks that doubt the power of the Fed will be sitting on the sidelines again while the sober minded folks collect the gains.

### REPLY:
'innovation'?  Lololol.  Just fucking absorbing more debt isn't innovation.  All the tricks in the bag are the same thing just with slightly different names and angles.  Ppl like you give economists way too much credit

### END.