John Taylor
a Stanford University Professor and
one of the 576 economists who have endorsed Romney, says that gold standard is
not the way in which the economic stability can be increased in the USA. He said that it would be more
robust if there’s pegging the dollar to a broader price index.
Taylor
has served as Treasury undersecretary I Bush’s administration and has created a
rule connected to guiding monetary policy.
Republican drafters
have set up a mission in order to think about return of the dollar to the gold
standard. They have proposed setting a fixed value for the currency after 2
days of deliberating.
In
a recent interview John Taylor said
that he is enjoying what he is doing. He commented that he is having a great
time in civil society and while doing his research.
When
asked who should replace Ben Bernarke,
Romney said 2 of his economic
advisors – Greg Mankiw of HU and Glenn Hubbard of CU. Romney commented that he has not thought
about just one person who can replace the Fed
chief.
Romney‘s
intentions to cut federal spending, overhaul the tax code, reinforce
entitlement programs and reduce regulation are going to change the direction of
the economic policy.
John Taylor
said that a third round of quantitative easing should be considered by the Fed
officials. According to him, the benefits from the first two rounds are quite
minimal. He is convinced that the Fed officials should go back to the policy
which worked very well in most of the 80s and 90s.
