News 2023

Our Chairman, Professor Tim Congdon, was mentioned in an article for Econlib by Scott Sumner, an influential American economist. Entitled My 2021 mistake, Sumner admits that he should not have supported the US Federal Reserve's new "Average inflation targeting" policy last year as it became apparent that the Fed was only concerned with inflation undershoots, not overshoots. Tim and Bob Hetzel (another US economist who has spoken at conferences organised by the Institute) are cited as two men who were  - correctly in the writer's opinion - critical of the Fed's expansionary monetary policy right from the start.