The Fed at risk of losing their credibility as guarantors of price stability unless they now respond to inflation.
Why the Fed Must Tighten
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Willem Buiter is an independent economic adviser. He is currently a Visiting Professor of International and Public Affairs at Columbia University and an Adjunct Senior Fellow at the Council on Foreign Relations. He was Global Chief Economist at Citigroup from 2010 to 2018 and a Special Economic Advisor at Citigroup from 2018 to 2019. Previously, he was Chief Economist and Special Counselor to the President of the European Bank for Reconstruction and Development and an original member of the Monetary Policy Committee of the Bank of England. He was the Juan T. Trippe Professor of International Economics at Yale University and has also held academic appointments at the Princeton University, the London School of Economics, the University of Bristol and Cambridge University. He is the author of 78 refereed articles in professional journals and seven books.