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Central Bank Forward Guidance Does Not Work

Central Bank Forward Guidance Does Not Work

6 Years ago | June 20, 2014 00:00:00

Sometimes I wonder if I am smarter than others, but then my wife quickly disabuses me of that opinion. I say this because I keep seeing intelligent economic officials making obvious blunders. The last major “obvious” blunder was forging ahead with the EUR scheme. Many of us realized that it was doomed from the start for obvious reasons. . Europe is not theUnited States of America, which has free labor mobility (language, culture etc.) from one region to another. Without that, the Euro-area has doomed itself to permanent regional economic inequality and eventual civil strife. Wasn’t that obvious?   

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