Forward guidance (with reference to Monty Python, Odysseus, Apollo, Paul Fisher, Deng Xiaoping and Mario Draghi's Old Man)

Richard W. Fisher

Speeches and Essays from Federal Reserve Bank of Dallas

Abstract: Those who think we can be more specific in stating our intentions and broadcasting our every next move with complete certainty are, in my opinion, clinging to the myth that economics is a hard science and monetary policy a precise scientific procedure rather than the applied best judgment of cool-headed, unemotional decision-makers.

Pages: 9 pages
Date: 2014-04-22
New Economics Papers: this item is included in nep-mon
Note: Remarks before the Asia Society Hong Kong Center
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