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It Will Be John Taylor - FINANCIAL-24

John Taylor will be the next Fed Chairman. Taylor is the founder of the famous "Taylor Rule," which dictates that the Fed raise rates when inflation is above target and lower rates when unemployment is above target.

Appointing Taylor means the "Rules" vs "Authority" debate may well be settled with a clear victory for rules.  If so, this means real transparency will finally come to the Fed.

In recent years, the Fed has increasingly abused its "authority," by acting without providing any reasoning based upon available data.  Instead, the Fed announcements talk about things they expect to happen in the future.  As we know, the future never quite turns out the way the Fed thinks.  The Fed, since 2008, has consistently over-estimated future economic growth and future inflation.

So, it's time to replace the "rule of the incompetent many" (the Federal Reserve Board) by the rule of "Taylor's Rule."  This will help provide stability to the economy and take politics, finally, out of Fed deliberations.

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