No, Yglesias, this is a lousy critique

  Matthew Yglesias @mattyglesias ·  Good critical thread here on the Fed’s new framework 

 Skanda Amarnath ( Neoliberal Sellout ) @IrvingSwisher · 21m Now for what I see as the most disappointing aspect to the Fed's framework review...the doubling down on inflation targeting. I think the Fed rightly sees its primary error as one of insufficient accommodation, but the reasoning and remedy are both flawed https://medium.com/@skanda_97974/by-doubling-down-on-inflation-targeting-the-fed-is-at-risk-of-forgetting-lessons-from-2008-2011-f877f78acba2 Show this thread

The poster unveiles a variety of targets rather than inflation, none ofwhich coalesce into any normative theory of banking.

The poster does get one thing right, the fake expectations game.  That game is not bout the agents expectations, it is about covering up a major blunder in banking theory.

I have the correct critique, and Matt Yglesias is not allowed to use the correct critique until his philosophers (Krugman) get his clue together. That may be a long time.

Here is the Yglesias, Krugman, Drum, Delonmg, Bernstein blunder.  The Fed is proimisin a huge seigniorage tax on =the regulated retail banking sector. In response, investors are russing to investments in shadow banking where the Fed tax cannot be enforced.

This is extremely regressive and extremely deflationary. Yglesias, Krugman, Drum, Delong, Bernstein all take the blame and responsibility for income inequality.  They cannot escape the blame, it is mathematically provable that this blundering banking theory is a disaster for poor and middle class.