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Inside the Fed...

By: weco in FFFT | Recommend this post (0)
Fri, 13 Jan 12 8:17 PM | 58 view(s)
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Msg. 38036 of 65535
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Release of notes after a five year delay as is customary.

http://www.nytimes.com/2012/01/13/business/transcripts-show-an-unfazed-fed-in-2006.html?_r=3&hp=&pagewanted=all

"The transcripts of the 2006 meetings, released after a standard five-year delay, clearly show some of the nation’s pre-eminent economic minds did not fully understand the basic mechanics of the economy that they were charged with shepherding. The problem was not a lack of information; it was a lack of comprehension, born in part of their deep confidence in economic forecasting models that turned out to be broken."


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