Federal Reserve Official Greatly Overstates Enjoyableness of Peeing in Bed

Wrinkled Bedsheets --- Image by ? Paul Edmondson/Corbis
A bed inside the Federal Reserve's Washington DC headquarters. Photo: Paul Edmondson/Corbis© Corbis. All Rights Reserved.

There are elegant, simple metaphors one can use when explaining the complexities of monetary policy. Then there’s this:


Next up: How NGDP targeting is like prairie-dogging.