Powell: ‘Economic Forecasters Are a Humble Lot Generally, with Much To Be Humble About’

EXCERPT:

RYSSDAL: "You've talked previously about humility. You've said the word humble already this morning once. I was talking to Neel Kashkari at the Minneapolis Fed the other day, and he said, you know, this economy is really tough to diagnose. So it's hard for us to know what's going on. Talk to me about humility in the face of -- and we were talking about this backstage -- about an economy that is still really, really hard to figure out what's going on."
POWELL: "So economic forecasters are a humble lot, generally with much to be humble about."
RYSSDAL: "That's funny. That's not my experience with economic forecasters." (Laughter)