Monetary Policy
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Bringing the Federal Reserve into the Agentic Era
Like leap year, every four years my quadrennial quest to algorithmically set the federal funds rate rolls around. I’ve pitched a software substitute for Ben, Janet, Jerome (twice), and now offer it in lieu of a Kevin (Hassett or Warsh). The original announcement has been updated slightly for agentic AI advances and current norms of…
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Let a Bot Run the Federal Reserve: 2021 Edition
Here is my quadrennial plea to put our monetary policy in the hands of a bot (and happy to call it a smart contract if that makes it more au courant). Despite my best efforts, Bernanke, Yellen, and Powell all got the nod over the bot. But the risks of human policy error have never…
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Nominating a Bot to the Federal Reserve Doesn’t Seem So Crazy Now Does It?
via Flickr I neglected to repost my quadrennial modest proposal to name a bot as chair of the Federal Reserve (instead of Bernanke or Yellen) during Jerome Powell’s nomination (I blame him). The idea is simple: Software Bot To Be Nominated Chairman of Federal Reserve System Cutting edge technology tapped to bring stability andconsistency to…