Tariffs and monetary policy: A toxic mix

Abstract

Cato Journal, Vol. 40, No. 1 (Winter 2020). Copyright © Cato Institute. All rights reserved. DOI:36009/CJ.40.1.3. Michael D. Bordo is Distinguished Professor at Rutgers University and Distinguished Visiting Scholar at the Hoover Institution. Mickey D. Levy is Chief Economist for the Americas and Asia at Berenberg Capital Markets. Both are members of the Shadow Open Market Committee (SOMC). The authors thank Andrew Filardo, Owen Humpage, Bernie Munk, and George Shultz for helpful comments. An earlier version of this article was presented at the SOMC’s September 27, 2019, meeting. Tariffs and Monetary Policy: A Toxic Mix Michael D. Bordo and Mickey D. Levy