Bernanke: Many Individuals and Households Continue to Struggle
Ben Bernanke earlier today:
...aggregate statistics can sometimes mask important information. For example, even though some key aggregate metrics--including consumer spending, disposable income, household net worth, and debt service payments--have moved in the direction of recovery, it is clear that many individuals and households continue to struggle with difficult economic and financial conditions. Exclusive attention to aggregate numbers is likely to paint an incomplete picture of what many individuals are experiencing. One implication is that we should increase the attention paid to microeconomic data, which better capture the diversity of experience across households and firms. ...
Another implication is that policymakers such as Ben Bernanke should do more to help individuals and households who "continue to struggle with difficult economic and financial conditions." So why isn't he pushing the Fed to do more at every opportunity?
Posted by Mark Thoma on Monday, August 6, 2012 at 10:49 AM in Economics, Fed Speeches, Monetary Policy |
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