“Second Class” meetings

The WSJ muses:

The Fed is unlikely to make any larger moves in part because little has changed on the economic front since their June meeting. Finally, while it isn’t the Fed’s formal policy to only make big policy moves at meetings featuring a Bernanke press conference, the reality is that the committee has tended to save big announcements for meetings after which Mr. Bernanke can take to the microphones to offer further explanation.

That´s cute but easy to solve. Just have a PC after every meeting. The point, nevertheless, is that PC´s have caused damages. Just look at May 22 and June 19. Maybe they should be scrapped?

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