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Published 13 days ago

A Better Model Won’t Fix The Fed

Summary by AIER

Jerome Powell is sworn in as Chairman of the Board of Governors of the Federal Reserve System. 2018. Can the Federal Reserve build a better mousetrap? Wall Street Journal columnist Joseph Sternberg hopes so. Sternberg rightly indicts the Fed for failing to predict and contain the worst inflation in 40 years. The problem is “the central bank’s model of the economy — the set of spreadsheets, as it were, that are supposed to help Fed staff economi…

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A Better Model Won’t Fix The Fed

Jerome Powell is sworn in as Chairman of the Board of Governors of the Federal Reserve System. 2018. Can the Federal Reserve build a better mousetrap? Wall Street Journal columnist Joseph Sternberg hopes so. Sternberg rightly indicts the Fed for failing to predict and contain the worst inflation in 40 years. The problem is “the central bank’s model of the economy — the set of spreadsheets, as it were, that are supposed to help Fed staff economi…

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