Peter N. Ireland is the Murray and Monti Professor in the Economics Department at the Morrissey College of Arts & Science at Boston College and a member of the Shadow Open Market Committee.
“Economists are correct in warning the public about the likely costs of disinflation. But leaders within and outside the Fed should not sit back and take these costs as given.” ~ Peter N. Ireland
“If the Federal Reserve raises interest rates too quickly, sharply declining M2 growth will signal the risk of recession. Monitoring M2 growth can help in making sure the Fed tightens monetary policy at the appropriate pace, not too fast and not too slow.” ~ Peter N. Ireland