Here is the Daily Telegraph’s Ambrose Evans-Pritchard:
“Central banks have the means to prevent a 1930s outcome, even with rates at zero, if willing to deploy Fisher-Friedman monetary stimulus with conviction, buying assets from non-banks and targeting nominal GDP growth of 5pc. But policy defeatism is in the air, and Austro-liquidationists are winning the popular debate.”
Ambrose continue to be the most outspooken British commentator in favour of NGDP targeting – Market Monetarist style.
See also my earlier post on Ambrose’s views.