Part 1. The Fed’s Bathtub Economics Brigade Blathers On

In case you are wondering what the meaning of “some” is—-don’t bother. It’s just the same old Fed ritual incantation, chanted in 2/2 “cut time”. That means there are only two beats to each of its monthly meeting measures—–employment and inflation. Like in the musical world, each beat is a half-note. But they might be better described as half-assed notes. The denizens of the Eccles […]