Wall Street is spending the summer trying to read one man’s mind. A new chair now runs the Federal Reserve, and every desk is guessing which way interest rates move next. With the economy looking steady, it can feel as though the difficult part is over.

Robert Hetzel, former Senior Economist at the Federal Reserve Bank of Richmond, has seen how quickly a settled view of the economy can become unreliable. The next test may arrive before markets have enough evidence to know that the outlook has changed.

After more than four decades inside the Federal Reserve, Hetzel joins us to explain why the debate over the next rate move may reveal less than it seems, and what will matter when the economy stops following the Fed’s forecast.

Views expressed in this video are the opinions of the host and the guest and do not necessarily reflect the views of The Epoch Times.