Anonymous asked in Business & FinanceInvesting · 2 months ago

why does everyone pay so much attention to the opinion of the Fed. Reserve or the ECB chairman's opinion of the economy?

it is just their unbiased opinion right? or biased or maybe just stupid or naive?

2 Answers

  • Matt
    Lv 6
    2 months ago

    If anyone knows where the US, European or global economy is headed, it should be those people as it is their job to know. In reality though, no one can predict with any great accuracy what is going to happen in the weeks and months ahead. Think back to this time last year. Did anyone predict how damaging the COVID pandemic would be for the global economy? Same goes for the dot com bubble, great depression, sub-prime mortgage crisis, etc. No one really knows what the future holds.

  • 2 months ago

    Because those people play a significant role in their respective economies. Their opinion turns into action

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