hall of mirrors거울의 방
A two-way loop in which markets set prices by reading the central bank's guidance while the central bank reads those same market prices as information, so both can miss what is new in the economy.
In these articles
- The record backs Warsh on 2021 and 2013 but not against forward guidance as such
Here: Warsh's central charge against forward guidance, with the Fed's own reading of stock prices as its other half.