Ellen Meade on Transparency, Independence, and Lessons for the Fed’s Next Framework Review
Macro Musings with David Beckworth
00:00
The Challenge Is Understanding What an Unconditional Forecast Is
I agree thad entirely. I don't blame the framework. And to be fair to the fed, i think it was a very difficult time. There were pry enough signs out there that suggested it was time to start tightening. Most forecasters got inflation forecast wrong. So do you think it's just hard, i mean, as some kind of cognitive bias and markets that makes it difficult for them to look at the s e p in general? The challenge is it's hard for the public or markets to understand what an unconditional forecast is.
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