The U.S. Federal Reserve Board keeps close tabs on two high-level measures of economic performance: GDP and inflation. While growing GDP and simultaneously keeping inflation in check are the end goals, the FRB looks at many other measures as well. That is because GDP and inflation are “lagging indicators” of economic performance — they confirm longer-term trends but cannot predict them. For example, it took macro economists a full year to figure out that we were already in the current recession. So it would be foolish to focus on only these numbers because by the time they indicate that a change is required, it is already too late.
Enter “the …
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February 3, 2012
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February 3, 2012
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February 3, 2012
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February 3, 2012