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...Or the same Ben Bernanke who, as chair of the Board of Governors of the Federal Reserve system, said in mid-May 2007 that he did not believe the growing number of mortgage defaults would seriously harm the...
...Importantly, the former US Federal Reserve chair shone a light on its “out of date” methods, and made some sensible recommendations that should help improve its forecasting processes and communication....
...But the man who led the US Federal Reserve in its response to the 2008-09 global financial crisis ducked the big question for economists: whether the UK’s central bank should start publishing its own views...
...The Bank of England must revamp its main economic model if it is to avoid repeating its recent failure to forecast surging inflation, former Federal Reserve chair Ben Bernanke has said....
...Macroeconomics: Hank (or, “Heterogeneous Agent New Keynesian”) is increasingly being used by the likes of the Federal Reserve Board, the European Central Bank and the Bank of England....
...He cited in particular the call by the former US Federal Reserve chair for the BoE to scrap the “fan charts” it uses to depict uncertainty around its forecasts....
...A senior European Central Bank executive has said publishing the interest rate forecasts of its policymakers — similar to the US Federal Reserve’s so-called “dot plot” — could help to address shortfalls...
...A part of the answer came from the recently published review commissioned from Ben Bernanke, a former chair of the US Federal Reserve and Nobel laureate, on “Forecasting for monetary policy making and communication...
...The FOMC consists of seven members of the board of governors and twelve regional Federal Reserve Bank presidents, including non-voting members that want to steer the discussion....
...Monetary policy: Federal Reserve Bank of Cleveland president Loretta Mester and Federal Reserve board vice chair Philip Jefferson participate in discussion hosted by the Federal Reserve Bank of Cleveland...
...The recent review of forecasting by Ben Bernanke, former chair of the US Federal Reserve, while full of sound recommendations, is unlikely to alter that. It was all meant to be so different....
...was still “walking on eggshells” The ECB looks like it might learn more lessons from Ben Bernanke’s review of the Bank of England than officials in London after Isabel Schnabel advocated the ECB publishing...
...The BoE said last summer it had commissioned former Federal Reserve chair Ben Bernanke to produce a report on its forecasting, which is due to be published this month....
...With yesterday’s decision, it is aiming to put decades of deflation behind it as signs emerge of broader change in the Japanese economy — including big pay rises that have given BoJ governor Kazuo Ueda enough...
...And here’s what I’m keeping tabs on today and over the weekend: Federal Reserve: Fed governor Michelle Bowman will deliver a speech about financial stability risks before the Texas Bankers Association Annual...
...This memo was written by Treasury secretary Janet Yellen (then a governor of the Federal Reserve Board) and entitled Job Insecurity, the Natural Rate of Unemployment, and the Phillips curve....
...Federal Reserve officials have indicated they still expect to cut interest rates by three-quarters of a percentage point this year, sending US equity markets to record highs....
...The fact that the rises are small and that this is not the Federal Reserve’s preferred measure of inflation is not enough to negate the signal, especially combined with this week’s gangbusters US retail...
...Federal Reserve board governor Michelle Bowman and Fed vice-chair Philip Jefferson will moderate panels at the event....
...Today’s top stories The Bank of England needs to revamp its economic model to avoid repeating its failure to forecast surging inflation, according to a review by former Federal Reserve chair Ben Bernanke...
...Fedspeak: Philip Jefferson, the Federal Reserve’s vice chair, will speak about the US economic outlook and monetary policy at the Peterson Institute for International Economics in Washington....
...Economists exchange: Arthur Laffer has been named by the Trump campaign as the potential next chair of the Federal Reserve....
...He said the former Federal Reserve chair Ben Bernanke, who is advising the bank on forecasting, was actively looking at a greater role for scenarios in future BoE analysis, policymaking and communication...
...Monetary policy: Multiple members of the Federal Reserve rate-setting committee speak at public events, a day after chair Jay Powell told an event at Stanford University’s Business School that the US central...
...But the story today has changed dramatically because of what the Fed did in December, and because of the [Fed governor] Christopher Waller speech in November....
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