Fed Chair Says Effective Policymaking Depends On Data

Law360 (October 8, 2019, 8:09 PM EDT) -- The chairman of the Federal Reserve highlighted the importance of data in developing effective monetary policy in a speech Tuesday that outlined how the value of free online services has not been fully measured and the ways the labor market could be better assessed by harnessing big data.

Speaking at the 61st Annual Meeting of the National Association for Business Economics, Fed Chairman Jerome Powell spoke of the central utility of data in successfully discharging the Federal Reserve’s mandate of price stability and maximum employment. Despite a broad set of issues covered in his address in Denver, including oil prices and...

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