May 3 – Bloomberg (John Fraher): “Otmar Issing is coming into fashion -- just as he prepares to retire as chief economist of the European Central Bank. Issing, 70, who attends his last interest-rate meeting tomorrow, argues that analyzing the flow of money through the economy helps central bankers identify asset-price bubbles. His view is attracting greater attention as property, stock and commodity prices surge globally. …Interest in money supply ‘is on the rise,’ said Jim O’Neill…chief global economist at Goldman Sachs… ‘Without it, there’s a risk of underestimating the consequences of asset prices and their impact on further monetary policy.’
Quoted by Doug Noland with his emphasis.
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