Raising interest rates has given the Federal Reserve some breathing room for the next time a downturn hits, economist John Taylor said Friday.
The Stanford economist and developer of the Taylor Rule model that determines where interest should be based on growth told CNBC that he sees a central bank that has returned to rules-based policy in recent years, which he considers a positive.
"I think they made some good changes since they started to normalize. I think that's a good thing," Taylor told CNBC's
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