James Pethokoukis
Politics and policy from inside Washington
Obama’s unemployment forecasts
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Brad DeLong looks at the Obama unemployment forecasting record:
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Fortunately, Ben Bernanke appreciated how serious a risk the economy faced. I recall a year ago some people advocating a more hawkish monetary stance. Perhaps that highlights the relative weight they place on potential inflation versus potential unemployment. Though it remains to be seen how effectively the Fed will be able to execute its exit strategy to avoid an explosion in inflation, so far it would appear that Bernanke’s understanding of the tradeoff was appropriate.