US and Euro: Target and Annual NGDP Growth Rates

US Actual and Target NGDP Growth Rates, Quarter on Previous Quarter, Annual Rates Source: FRED

US Actual and Target NGDP Growth Rates, Quarter on Previous Quarter, Annual Rates

Source: FRED

Goldilocks said: "This monetary stance seems just about right to me.  Thank you Papa Bernanke."

 

Euro 18 Actual and Target NGDP Growth Rates, Quarter on Previous Quarter, Annual Rates Source: ECB

Euro 18 Actual and Target NGDP Growth Rates, Quarter on Previous Quarter, Annual Rates

Source: ECB

But then she said, "This Euro Area monetary stance is way too hard, whoever you are Euro Central Banker guy."

Moral of the story: Make sure you have shale oil.