Category Archives: public policy

Redacted Version of the January 2015 FOMC Statement

December 2014 January 2015 Comments Information received since the Federal Open Market Committee met in October suggests that economic activity is expanding at a moderate pace. Information received since the Federal Open Market Committee met in December suggests that economic activity has been expanding at a solid pace. Shades GDP up. This is another overestimate […]

On Financial Risk Statements, Part 1

Most formal statements on financial risk are useless to their users. Why? They are written in a language that average people and many regulators don’t speak. They often don’t define what they are trying to avoid in any significant way. They don’t give the time horizon(s) associated with their assessments. They don’t consider the second-order […]

Redacted Version of the October 2014 FOMC Statement

September 2014 October 2014 Comments Information received since the Federal Open Market Committee met in July suggests that economic activity is expanding at a moderate pace. Information received since the Federal Open Market Committee met in September suggests that economic activity is expanding at a moderate pace. No change. This is another overestimate by the […]