Great point you make about the growing digital divide among older people. There are those who understand how the speed of digital messaging impacts the markets and economies and those that don't - like the Fed Chair.
I'm not sure it has to do with age in this case. It seems more of an institutional issue. The "Fed way" is the "Fed way." There doesn't seem to be anyone at the Fed that does what Peter Lynch championed - getting out and kicking the tires. I'm not implying it's political. The world works on fiberoptics and real time data. Walmart, Costco, and Target know where you're standing in their store and build a profile on you by tracking your cell phone in real time. The Fed should have access to real time data and update their models. Otherwise, they will always be "behind the curve" and the markets and the economy will always take the hit because of the way they run their business.
Great point you make about the growing digital divide among older people. There are those who understand how the speed of digital messaging impacts the markets and economies and those that don't - like the Fed Chair.
I'm not sure it has to do with age in this case. It seems more of an institutional issue. The "Fed way" is the "Fed way." There doesn't seem to be anyone at the Fed that does what Peter Lynch championed - getting out and kicking the tires. I'm not implying it's political. The world works on fiberoptics and real time data. Walmart, Costco, and Target know where you're standing in their store and build a profile on you by tracking your cell phone in real time. The Fed should have access to real time data and update their models. Otherwise, they will always be "behind the curve" and the markets and the economy will always take the hit because of the way they run their business.