Think of it as Fischer Black macro for 2016.
Knowing what he thinks of Fischer Black, that is praise. Fischer Black and I were far apart on macro in the late 1970s, when he was a finance professor and I was a grad student at MIT. But Tyler is correct that my heterodoxy is probably closest to Black’s, particularly his non-monetarism.
“Needs more Fisher Black” is kind of a.catchphrase of his.