Wednesday, January 4

Is the Alleged Tight-Money policy Over?

From Bloomberg:
The number of rate increases needed to control inflation ``probably would not be large,'' yesterday's minutes from the Fed's December policy meeting showed. The ``measured'' phrasing was retained to avoid any suggestion of bigger rate increases, the central bank said.

No wonder they want to get rid of M3, managing 'inflationary expectations' is half the fun of it.

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