Once again we are left hanging by lack of confidence that they Fed will "do the right thing". Is this lack a bug in the system or a feature? Is it inevitable given, as you say, the range of challenging potential storms that could blow the Fed off course?
How easy is it in real time to know what the stance of your policy really is?
Once again we are left hanging by lack of confidence that they Fed will "do the right thing". Is this lack a bug in the system or a feature? Is it inevitable given, as you say, the range of challenging potential storms that could blow the Fed off course?