So the advice to potential policymakers is simple: Learn as much as you can, for most of it will come in useful at some stage of your career; but never forget that identifying what is happening in the economy is essential to your ability to do your job, and for that you need to keep your eyes, your ears, and your mind open, and with regard to your mouth – to use it with caution.
Many thanks again for this award and this opportunity to speak with you. References Bernanke, Ben S. (2005). “The Global Saving Glut and the U.S. Current Account Deficit,” speech delivered at the Homer Jones Lecture, St. Louis, April 14. Blanchard, Olivier (2014).