Chair Yellen Needs Many Hands to Juggle Income Data

August 22nd, 2014 at 1:30 pm

I review the Fed chair’s Jackson Hole speech from earlier this AM, over at PostEverything.

It’s–appropriately–a lot of “on the one hand, this…on the other hand, that.” And while no one should deify the Fed chair, that does bring the following image to mind:

At times when the data are ambiguous, this Goddess would make a great economist.

manyarms

 

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Categories: Economic Growth, Federal Reserve, Full Employment, Jobs, New Posts, Wages | 1 Comment »

One comment in reply to "Chair Yellen Needs Many Hands to Juggle Income Data"

  1. Peter K. says:
    August 22, 2014 at 3:13 pm

    In general I’m in agreement. I haven’t read the paper on labor share yet, but I’d suggest another way to put it: monetary policy has failed to compensate for government austerity and the trade deficit. Also, structural factors like international trade and the weakness of the labor movement which reveal themselves in statistics like the falling labor share, make a replay of the 1970s unlikely.