Federal Reserve Governor Jerome Powell attends a conference at the Brookings Institution in Washington August 3, 2015. REUTERS/Carlos Barria/File PhotoJACKSON HOLE, Wyo. The general thinking is that it has dropped, but finding that point has been elusive.“These are unobservables, and he’s good about emphasizing that,” said James Bullard, president of the St. Louis Fed. “As economists we often fall in love with our models, I certainly fall in love with my models. But at the same time I’m aware, and I have to remind myself all the time about all the shortcomings of models.”

Source: Egypt Today August 27, 2018 08:37 UTC