Buzzword Bullard on Reuters
- Inaccurate Fed forecasts have been pulling the central bank in different directions
- Says it's a long standing problem
- Forecasts overestimating growth and inflation pull policy makers in one direction while underestimation of the unemployment decline pulls in the other
- In recent months more weight has been given to slower than expected growth which has led to policy makers keeping rates lower for longer
A serious case of pot calling the kettle black when it comes to forecasts. Over the last couple of years Bullard has called inflation every which way but right
"What do you mean I've got inflation wrong again?"
