Fed Study Shows "Persistent Fed Overoptimism about Economic Growth"; What Will They Do About It?
MishTalk
FEBRUARY 2, 2015
Possible explanations for this pattern include missed warning signals about the buildup of imbalances before the crisis, overestimation of the efficacy of monetary policy following a balance-sheet recession, and the natural tendency of forecasters to extrapolate from recent data. This is a general statement.
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