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Joseph Wang & William White: Mammoth Interest Rate Hikes Are Causing Trouble In Sovereign Debt
Forward Guidance
Macro Economics Modeling Workshop
The great physicist Feynman once gave an inaugural convocation address, I think some place on the west coast in which he said is physics hard. And he said no, it's not really because just imagine how hard it would be if the molecules had feelings. So the kind of modeling that we've done in the past is not useful in systems like that. The people with feelings are constantly adapting to the circumstances in which they find themselves and how they feel about the circumstances inwhich they find themselves. Going back to Dr. White's one of the original points, maybe that entire approach by economists is part of the reason why we seem to be in the situation that we are in where inflation
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