Yellen Writes Down Productivity Growth

The transcript discusses the Federal Reserve's challenges in forecasting economic growth and inflation, focusing on productivity issues. It highlights the Fed's struggle to meet its projections and the implications for interest rates. The discussion also touches on the political context, emphasizing the Fed's independence during election periods.

What challenges does Janet Yellen identify regarding productivity and living standards?

How does the Fed's forecast for GDP growth compare to actual growth observed?

What was the Fed's anticipated interest rate hike between December 2015 and the end of the year?

In what ways does the Fed struggle to explain its projections and outcomes?

What stance does Janet Yellen take regarding the Fed's independence in relation to political influences?