The Fed’s blithe confidence in their models and forecasts influenced society’s behavior. Therefore, not only were their models wrong, but their unacknowledged wrongness arguably made things worse.
Comments closedWriter and Professor Emeritus of Financial Engineering at Columbia University
The Fed’s blithe confidence in their models and forecasts influenced society’s behavior. Therefore, not only were their models wrong, but their unacknowledged wrongness arguably made things worse.
Comments closed