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TL;DR - "Let's replace the prognostications of the fed with an algorithm."
Worthy of note: David Viniar, CFO of Goldman Sachs, described the moves of the market in 2008 as "25 sigma events", as in, 25 standard deviations from the norm.
Yet every housing blog in the country decried the insanity for a year ahead of time.
One member of the FMOC being an advocate of the Taylor Rule isn't all that wild. There are several members who basically support the Taylor rule already, they just aren't advocating for it to automatic (that I've heard). I don't follow the fed like I used to but this isn't outside the box and probably won't happen.