Once again, the Federal Reserve Open Market Committee has announced its intention to continue to artificially keeping interest rates "exceptionally low" for a "extended period."
Missed in virtually all the commentaries is the key question: Should a central bank try to manipulate interest rates? Lost in all the debate [...]
The Federal Open Market Committee (FOMC) ended their two-day meeting today the same way they have been for months now: keeping the target for the Fed funds rates between and 0.25%, and claiming that the economy continues to recover, albeit very slowly:
Although economic activity is likely to remain weak [...]
Release Date: December 16, 2009
For immediate releaseInformation received since the Federal Open Market Committee met in November suggests that economic activity has continued to pick up and that the deterioration in the labor market is abating. The housing sector has shown some signs of [...]
An otherwise fine article from the Wall Street Journal starts with this headline:
"New York Fed Starts To Unwind Stimulus"
You might casually read that headline and assume that the Federal Open Market Committee was mighty impressed by the November employment report—and quick to respond with the first stages [...]
