Coming up with criteria and metrics on the economy is pretty easy
I agree. In fact, I think coming up with criteria and metrics on the economy is profoundly challenging within the US context. We know there are right tail events (inflation, unemployment, etc) that are very strong. But when they are all generally stable, or within the realm of stability, but the variation within demographics and geographies of the US is huge, the value of the metrics can start to dramatically collapse IMO.
I agree. In fact, I think coming up with criteria and metrics on the economy is profoundly challenging within the US context. We know there are right tail events (inflation, unemployment, etc) that are very strong. But when they are all generally stable, or within the realm of stability, but the variation within demographics and geographies of the US is huge, the value of the metrics can start to dramatically collapse IMO.