county level) data on, for example, unemployment or house prices: the former an indicator of  2  The Central Bank’s new loan-loss models have been validated by BlackRock Solutions, who conducted the loan-loss projection exercise for us in March 2011. 2  BIS central bankers’ speeches  affordability, the latter contributing to a measure of negative equity.
8 Ratios of government debt to gross domestic product are growing rapidly among advanced economies. As I just discussed, the Fed should steer clear of fiscal policy. But, the threats to independence do not stop there. In this environment, let me briefly comment on two other pressure points.