Ben Bernanke's term as chairman of the Federal Reserve is to end on 31 January 2014 and all indications are that President Obama will nominate a new chairman. This is a momentous occasion as we've had only two Fed chairmen in 27 years, while over the same period we've had five Presidents with economic agendas spanning from Ronald Reagan to Barrack Obama.The moment is bigger than just changing personalities at the helm of the Fed. It is a chance for a new and more effective approach toward monetary policy. Indeed, the restrictive Greenspan monetary policy and the accommodative Bernanke monetary policy, enacted at the most critical times during their respective chairmanships, were seemingly quite different. However, they were both rooted in...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.