Put Inflation Fears Aside

At the NYT Room for Debate: Me versus John Cochrane and Ed Harrison:

• Put Inflation Fears Aside - Mark Thoma
• Inflation Should Be Feared - John Cochrane
• There's Little the Fed Can Do - Edward Harrison

My position is that the Fed is too worried about inflation and too pessimistic about its ability to lower the unemployment rate, and as a consequence it is not doing enough to fight the unemployment problem.