The idea is not new. It has been advocated in the past. But in the current crisis it has been receiving a cult following mainly thanks to the blogosphere. It slowly started at the beginning of this crisis and now is reaching its climax. I am talking of course about the Nominal GDP targeting (level or growth rate). It seems that everyone (at least some of the blogs I read) is supporting the idea. I have my own doubts about this particular monetary regime, mainly as I think that it is asymmetric, backward looking and not as transparent as flexible inflation targeting. But, it is an important subject for the future of monetary policy and it deserves attention.
Here few links to the people supporting the idea.