Evidence-Based Policy

by Dr Jerome
TF Metals Report

A funny coincidence occurred recently—yet another week when the Fed is hinting, signaling, screaming (but probably lying) that they will raise interest rates. A colleague asked me if I would review an article she has written for an encyclopedia on research methods. Her article explains “Evidence-Bassed Policy” and discusses how political and community leaders use this method to make wiser decisions, to solve problems and plan for the future. Actually, I don’t think that coincidences are usually coincidences, just like the “sometimes” thing with cigars and Freudian obsessions. So I’d like to muse about the FED’s decision-making methods here in this short essay, and contrast them with the theory behind their rationale.

My esteemed statistician colleague wrote:

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