After so many years as a top-notch academic in addition to a stint as head honcho at the Bank of Israel, how come he still reasons from a price change?:
A strong dollar is restraining U.S. inflation and exports, justifying a slower pace of interest-rate increases, but on balance the U.S. economy is riding out the effects fairly well, Federal Reserve Vice Chairman Stanley Fischer said Thursday.
He can´t see below the surface and misses the fact that the strengthening dollar (and low inflation) is a consequence of the tight policy his ‘bank’ has adopted!
Or, it could be smart blame shifting, as in “In spite of that the ‘bank’ has done quite well”!