Michael Ignatieff for PS Longer Reads: The Question of Collaboration

Is 2% Really the Right Inflation Target? Michael J. Boskin, John Cochrane, Brigitte Granville, and Kenneth Rogoff respond in a new Big Question. [View this message in a web browser]( [PS On Point]( JULY 28, 2023 No one doubts that the most well-known collaborators in World War II were experts at exploiting the fissures in totalitarian regimes and wiggling their way through the cracks into positions of power. But assessing their motives poses a much greater challenge, writes Central European University's Michael Ignatieff, and that is why the issue is still debated to this day. [Read more](. Is 2% Really the Right Inflation Target for Central Banks? Following rate hikes by the US Federal Reserve and the European Central Bank, Michael J. Boskin, John Cochrane, Brigitte Granville, and Kenneth Rogoff assess the usefulness of contemporary monetary policy’s lodestar. [Read more](. [PS. Save 30% on a new Digital or Digital Plus subscription.]( [PS Longer Reads: The Question of Collaboration]( [The Question of Collaboration]( By Michael Ignatieff It has taken two generations for most countries that were occupied by Nazi Germany to admit that it was the resisters, not the collaborators, who were the minority. But now we risk swinging too far the other way: normalizing collaboration and making resistance so exceptional that only saints would choose it. [Read more]( [PS Big Question: Is 2% Really the Right Inflation Target for Central Banks?]( [Is 2% Really the Right Inflation Target for Central Banks?]( with Michael J. Boskin, John Cochrane, Brigitte Granville, and Kenneth Rogoff Despite slowing price growth, the US Federal Reserve has raised its benchmark policy rate by another 25 basis points, to a range of 5.25% to 5.5% – its highest level in more than two decades. With the European Central Bank also hiking rates over lingering inflation concerns, we asked PS commentators whether the fixation on 2% is warranted. [Read more]( [PS Longer Reads: What to Do About Radical Uncertainty]( [What to Do About Radical Uncertainty]( By William H. Janeway A longstanding belief in the predictability of market behavior and outcomes has created plenty of fodder for academic theorizing in economics. But firms operating in the real world succeed by recognizing that the future is unknowable – and acting accordingly. [Read more]( [PS. Subscribe to PS Premium now.]( [Facebook]( [Twitter]( [LinkedIn]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. Receipt of this newsletter does not guarantee rights to re-publish any of its content. This newsletter is a service of [Project Syndicate](. [Change your newsletter preferences](. Follow us on [Facebook]( [Twitter]( and [YouTube](. © Project Syndicate, all rights reserved. [Unsubscribe from all newsletters](.