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Nominal GDP A Little Above Trend, Gap Remains Large Q1 nominal GDP (NGDP) growth was 3.8% (quarterly growth stated as annual rate), the same as in Q4 NGDP growth consisted of 2.2% real growth and 1.6% inflation An increasing number of economists focus on NGDP growth as a key policy target. Real potential GDP growth has averaged about 2.3 percent over the past 10 years. Adding 2 percent for the Fed’s target rate of inflation gives 4.3 percent. NGDP targeters could thus make a case for a more stimulative policy Posted April 28, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com

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