Speaking recently in Germany, Kocherlakota notes in light of the continued necessity for interest rates to remain low-"There is an enhanced risk that the Federal Open Market Committee (FOMC) will undershoot its maximum employment and 2 percent inflation objectives. Fiscal policymakers can mitigate this risk by choosing to maintain higher levels of public debt".
This is consistent with our recognition that without governments or banks creating money the economy is limited in its prospects. We're keen to highlight these remarks as they run counter to the narrative supported by most of our elected officials.
Now if only these monetary policy makers would begin proposing optimal measures we'll make real progress. Until then we will starting with investment in energy efficiency with return on investment and full employment policies to support wages.