{"id":273131,"date":"2025-03-30T22:27:06","date_gmt":"2025-03-30T22:27:06","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2025\/03\/30\/bordo-siklos-central-bank-credibility-using-michigan-expectations\/"},"modified":"2025-06-25T17:09:01","modified_gmt":"2025-06-25T17:09:01","slug":"bordo-siklos-central-bank-credibility-using-michigan-expectations","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2025\/03\/30\/bordo-siklos-central-bank-credibility-using-michigan-expectations\/","title":{"rendered":"Bordo-Siklos Central Bank Credibility, using Michigan Expectations"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"post-56186\">\n\t\t\t\t<!-- .entry-header --><\/p>\n<div class=\"entry-content\">\n<p>Using final March numbers:<\/p>\n<p><a href=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/03\/bordosikloscred5.png\"><img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-56187\" src=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/03\/bordosikloscred5.png\" alt=\"\" width=\"820\" height=\"532\" srcset=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/03\/bordosikloscred5.png 820w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/03\/bordosikloscred5-300x195.png 300w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/03\/bordosikloscred5-768x498.png 768w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/03\/bordosikloscred5-624x405.png 624w\" sizes=\"(max-width: 820px) 100vw, 820px\"\/><\/a><\/p>\n<p><em><strong>Figure 1:<\/strong> Bordo-Siklos measure of central bank credibility, using 5 year Michigan expectations (blue). Assumes 2.45% CPI inflation is consistent with 2% PCE deflator inflation. NBER defined peak-to-trough recession dates shaded gray. Light orange denotes Trump administration. Source: BLS, NBER, and author\u2019s calculations.<\/em><\/p>\n<\/p><\/div>\n<p><!-- .entry-content --><\/p>\n<footer class=\"entry-meta\">\n\t\t\tThis entry was posted on <a href=\"https:\/\/econbrowser.com\/archives\/2025\/03\/bordo-siklos-central-bank-credibility-using-michigan-expectations\" title=\"2:51 pm\" rel=\"bookmark\"><time class=\"entry-date\" datetime=\"2025-03-30T14:51:23-07:00\">March 30, 2025<\/time><\/a><span class=\"by-author\"> by <span class=\"author vcard\"><a class=\"url fn n\" href=\"https:\/\/econbrowser.com\/archives\/author\/menzie_chinn\" title=\"View all posts by Menzie Chinn\" rel=\"author\">Menzie Chinn<\/a><\/span><\/span>.\t\t\t\t\t\t\t\t<\/footer>\n<p><!-- .entry-meta -->\n\t<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/econbrowser.com\/archives\/2025\/03\/bordo-siklos-central-bank-credibility-using-michigan-expectations\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Using final March numbers: Figure 1: Bordo-Siklos measure of central bank credibility, using 5 year Michigan expectations (blue). Assumes 2.45% CPI inflation is consistent<\/p>\n","protected":false},"author":1,"featured_media":273132,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[155],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/273131"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=273131"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/273131\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/273132"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=273131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=273131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=273131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}