Who is right about inflation?
The US Fed and consumers have very different expectations about the future.
How central bankers can manage consumer expectations
Ordinary people understand messaging about goals, not the means of getting there.
How central bankers misjudge forward guidance
People buy now if prices are set to rise, but only if the message gets through.
Why central banks need to change their message
The US and European central banks thought they could manage their economies by bringing their secretive plans for interest-rate regulation into the light. But they didn’t account for an unreceptive public.
CBR Briefing #66
How announcing a sales-tax hike could boost consumer spending