University of St. Thomas Finding Forward event featuring Federal Reserve governor explores how much words matter in economics
In many ways the economy is like the weather in Minnesota. It’s hard to predict, can swing wildly, and people love to complain about it but can’t do anything about it.
One of the few exceptions to that last rule, however, is Christopher Waller, a member of the Federal Reserve Board of Governors and one of the people who helps guide monetary policy in the United States.
The actions and statements of the Fed and its leaders can also stoke controversy and fractious political responses. Some accuse the Fed of deliberately trying to game the economy for political reasons; others accuse it of being indifferent to the impact its decisions have on people. Investors sometimes buy and sell based on what Fed members say, influencing the markets.
For all these reasons, Waller chose his words carefully when speaking at the Finding Forward speaker event at the University of St. Thomas in Minneapolis on Feb. 22. Together, along with the panelists who analyzed his remarks following his address, he helped highlight how important transparency and trust are when words and perceptions…
