Central Bankers’ Chimera: the ‘Natural Rate’ ?

Is the natural rate nothing more than a Chimera: a mythological fire-breathing monster with a lion’s head, a goat’s body, and a serpent’s tail that are fun and a bit scary to think about… doesn’t actually exist? Like a nasty unicorn on steroids facing a down round?

WSJ: http://www.wsj.com/articles/central-bankers-zeal-for-the-natural-rate-draws-skeptics-1481476667

Chimera: a mythological fire-breathing monster with a lion’s head, a goat’s body, and a serpent’s tail.

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