When is it most diffi cult to interpret incoming data? (Hint: Consider the case in which retail sales are weak but new orders for capital goods are strong, etc.) What is policy regret? What are some...

When is it most diffi cult to interpret incoming data? (Hint: Consider the case in which retail sales are weak but new orders for capital goods are strong, etc.)

What is policy regret? What are some of the strategies that the Fed could use to minimize policy regret?