Hanging with Ben

At the Monetary Policy confrence I attended today, Federal Reserve Chairman Ben Bernanke, announced the Federal Reserve would reveal more about the economic forecasts they make (see NY Times Article). Given that the object of the Fed is to get people to react to their policy, seems like a good move to me (although I know little about monetary policy).

I did like his answer to a question about whether the American public should know more about how the Fed works. He discussed some programs the Fed has such as a model UN type program, where students pretend to be members of the FOMC. However, he said it is more important for Americans to understand their mortgage and how to balance their checkbook.