Central Bankers And The Folly Of Paint-By-The-Numbers Monetary Policy

If you don’t think the global financial system is a powder keg fixing to blow, just consider the rank insanity emanating during the last two days from its monetary suzerains—the Fed and the ECB. In the face of Y/Y inflation (CPI) of 2.7%, the Fed’s dot plot telegraphed that the fed funds target rate would not exceed that level until late […]