Cleveland's Pianalto on the Federal Reserve System

In the speech 'An overview of the Federal Reserve System' given on 5 October Sandra Pianalto of the Federal Reserve Bank of Cleveland said the official data that are available are just not current enough for a forward-looking enterprise like monetary policy.

"So to prepare for FOMC meetings, I must rely not only on my team of economists-as talented as they are-but also on people in the community," Pianalto said. "Input from businesspeople and consumers provides me with reliable information on the

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