Word: trusted
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...author wants to draw the wrong conclusion from the fact that simplified models get things wrong (even dramatically wrong). No one denies that we need to better understand and communicate the limitations of data, that it is crucial to guard against unjustified trust in our preferred models (perhaps the author forgets that before the crisis, there were plenty of critics of the efficient market hypothesis who were using data and simulation to predict pathological behavior in asset markets). But a data-driven, formal approach to making policy decisions is quite frankly the best we can do and therefore essential...
...even greater scale, this amendment violates one of the basic foundational principles of our central banking system: Our economy hinges on the trust that we place in the Federal Reserve to look out for the best interests of the economy at large, independent of any political influence whatsoever. Through administrations that might be victim to political pressures of all types, the Federal Reserve does what is right for the stability of our economy, be it the case of former Chairman Paul Volcker’s raising of interest rates to historically high levels in order to cut inflation...
Uchiyama put the Harvard Sells website together in around seven hours after his last final ended, he said. He decided to use Facebook instead of other sites like Craigslist because “people always trust their Facebook friends...
...It’s hard to deny that to some extent society’s trust in business has taken a hit,” Nohria said. “As dean one of my great hopes is to restore the trust lost, innovate in curriculum, innovate in research, and usher in a new century of innovation that would usher in a new sense of business’s role in society...
Does Harvard oppress the mentally ill? Absolutely not. Trust me, I've been there...