Focused Insights | Separating News From Noise

A Monetarist View of Where the Fed Went Wrong on Inflation

By Nick Sargen, PhD November 5, 2024

The Hoover Institution sponsored a conference at Stanford University to commemorate the 50-year anniversary of the Shadow Open Market Committee (SOMC). It was founded by monetarist economists Allen Meltzer, Karl Brunner, and Anna Schwartz in the early 1970s when inflation spiked to a post-WWII high.

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