Davies: Need a Clear, Coherent Message From Yellen

The transcript discusses the challenges faced by the Federal Reserve in communicating a coherent message due to diverse opinions within the FOMC, similar to the British Monetary Policy Committee. It highlights the impact of the rising dollar and interest rates on monetary policy. The discussion also covers the decline in productivity, particularly in the service sector, and the difficulties in measuring it accurately.

What factors does Stan Fischer consider when discussing the potential for a rate hike?

In what ways does the speaker suggest that productivity measurements are problematic in the service sector?