Alternative Operating Model for the Fed

An Alternative Operating Model for the Fed

Authors: Steve H. Hanke and Matt Sekerke

Journal: The International Economy, Summer 2025

Hanke and Sekerke propose a new operating model for the Federal Reserve, arguing the Fed should target the growth rate of a broad Divisia index for monetary services, using constraints on the release of bank capital as its primary instrument.

The International Economy

Full Citation:

"An Alternative Operating Model for the Fed", The International Economy, Summer 2025 (with Matt Sekerke).