Fed's Williams Says Covid Didn't End Era of Low Rates

The video discusses the concept of R Star, its status post-pandemic, and the challenges in forecasting its future. It highlights the use of forecast data and models to estimate R Star, showing that current estimates are similar to pre-pandemic levels but may decrease. The video emphasizes the imprecision and challenges in empirical research, encouraging continuous learning and adaptation. It concludes by honoring Thomas Laubach's legacy in economic research.

What insights does the speaker share about empirical research in relation to R Star?

What legacy of Thomas Laubach is mentioned in the text?