John H. Cochrane
Economist at the Hoover Institution, previously at the University of Chicago's Booth School of Business, and the author of the fiscal theory of the price level. Writes at The Grumpy Economist.
John H. Cochrane did not write this page.
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Believed beforeby their own account
Their words, looking backThis is way worse than I thought. I thought Core would help a bit. I believed that food and energy would have temporary variation which core would tell us to ignore.
Nowsaid
Our readingNo longer believes this.
Their wordsRow 3, in a multiple regression, core does nothing to help to forecast inflation.