Speech

Confessions of a data dependent

Abstract: Remarks before the New York Association for Business Economics, New York, November 2, 2006 ; \"Globalization brings new influences into the Fed's navigation calculations to determine the best flight path for the U.S. economy. To determine that course...we must develop a better understanding of the new forces exerting themselves on the aircraft we have been charged with flying. That aircraft no longer flies solely in domestic space, affected soley by domestic factors. Rather, it flies all over the world, requiring more sophisticated navigation instruments to monitor changing global and domestic economic conditions, enabling us to pilot the craft safely and efficiently.\"

Keywords: Economic indicators; Forecasting; Monetary policy; Statistics; International economic integration;

Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Part of Series: Speeches and Essays

Publication Date: 2006

Number: 59