Introduction; P.Arestis & A.Ross What is the New Consensus in Macroeconomics? P.Arestis Are there Dangers in the Microfoundations Consensus?; S.Wren-Lewis The Future of Central Banking; C.Goodhart The Foundations of Monetary Policy in the New Consensus Framework: A Partial Critique; M.Sawyer The New Consensus in Monetary Policy: Is the NKM Fit for the Purpose of Inflation Targeting?; M.Wickens & P.Smith New Consensus and Monetary Policy Delegation; G.Chortareas The New Consensus and the UK Macroeconomic Policy Framework; A.Gurney Is there a New Consensus in Monetary Policy?; C.Bean On Two Aspects of the Fed's Monetary Policy; W.Poole The Performance of the ECB; M.Artis