Federal Reserve Strategy Too Focused on Short-Term Data

The transcript discusses a speech by Meltzer at the Chicago Fed, highlighting the Fed's focus on short-term data and lack of long-term strategy. It contrasts short-term and long-term ISM, with opinions on Meltzer's views. The discussion also covers the Fed's expanded role in asset management and regulation, moving beyond its original monetary policy focus.

What is the main criticism of the Fed according to Meltzer's speech?

• It has a clear strategy for long-term stability.

• It gives excessive attention to short-term data.

• It focuses too much on long-term data.

• It lacks a strategy for short-term stability.

What is Olivia's perspective on the short-term and long-term ISM?

• She thinks they are the same.

• She has not studied them.

• She believes they are unrelated.

• She finds them to be timeless.

How does David feel about Professor Meltzer's speech?

• He is critical of Meltzer.

• He disagrees with Meltzer.

• He is indifferent to Meltzer's points.

• He agrees with Meltzer's criticism.

What concern does David express about the Fed's role?

• The Fed is not involved in asset management.

• The Fed has not expanded its role.

• The Fed's role is limited to monetary policy.

• The Fed has expanded its role significantly.

In what areas has the Fed expanded its role according to the final section?

• Only in monetary policy.

• In asset management and regulation.

• In reducing its asset purchases.

• In limiting its regulatory scope.