Reminiscing about Back to the Future highlights the fact that making predictions is never an exact science. In other words, if you would permit me to tell a corny joke: “It’s hard to make predictions, especially about the future.” But this must not be allowed to result in developments that are foreseeable in the long term being ignored.
By educating students and directly supporting their contributions to the economy as producers and consumers, all teachers, especially teachers of economics, are effectively furthering our mission at the Fed, so let me offer my thanks for making that job a little easier.