The Fed has been hanging its hat on “data” for far too long. The data it uses is compiled in arrears and is sometimes months old. The Fed rarely looks ahead. Given the historically unique times we are experiencing today, can the Fed evolve, embrace this new landscape, and begin to act proactively? Or will it be left behind as an economic revolution unfolds?
Well, dear readers and Fed watchers, welcome to the artificial intelligence (AI) revolution.
I am enjoying a cup of Nespresso to serve up my take on a technology that may transform and potentially upend everything in our lives – in ways we cannot even imagine. Pull up a chair and your favorite brew as we consider the possibilities of a real economic transformation.
When the economy ran o
