Posen: Jackson Hole Not a Coherent, Good Meeting

The transcript discusses a conference where the focus was on academic topics, avoiding discussions on negative rates. Vice Chair Fisher's unprecedented speech followed the chair's, highlighting a lack of coherence. The Federal Reserve's strategy, as explained by Vice Chair Fisher, revolves around inflation targeting, using the Phillips curve to predict wage and price increases, aiming for a two-year inflation target.

What challenges were mentioned regarding the coherence of the meeting?

What was the main difference highlighted by Vice Chairman Fischer in his speech?

What does the current strategy of the Federal Reserve seem to be?

How does the Phillips curve relate to wage price increases and inflation?

What is the significance of targeting inflation at a two-year horizon?