Don't Be Fooled by the Fed's Facade - Bloomberg View
Look for the Federal Reserve to abide by this rule when it meets
tomorrow and Wednesday -- and the European Central Bank to do the same
in early August. Janet Yellen and her colleagues on the policy-making
Federal Open Market Committee will maintain their well-telegraphed,
gradualist approach, reducing monthly bond purchases by another $10
billion, signaling no urgency in raising interest rates, and reminding
us of the importance of looking beyond the unemployment rate to
understand what's happening in the job market.
Still, behind this
comforting “steady as she goes” facade, Fed officials will be dealing
with five complex and inter-related issues, the resolution of which will
be months in the making:
The Fed is not "autonomous". It is the great enabler of the Welfare
State & Warfare State. We don't need that type of "effectiveness".
It is the destroyer of Liberty.
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