On the one hand, the US economy is more flexible than the euro area, which means that the effects of asymmetric shocks can be absorbed more easily and more quickly. On the other hand, the United States exhibits stronger regional specialisation than the euro area, making its regions more susceptible to specific asymmetric shocks.
What we do have is a group of extremely knowledgeable, experienced, and talented people who study all aspects of the economy. We also have a number of powerful economic models that have been developed and tested over the years. In addition to the economists and researchers at the Board, every Reserve Bank has economic research groups.