Mama Mia!

From the WSJ (who else!):

Wednesday’s statement retained the Fed’s language that interest rates will remain low “for a considerable time,” which pleased the doves. For the first time, however, the Fed also explained in some detail how it might exit from its post-crisis monetary exertions, which suggests it really is preparing to raise rates—eventually. But then in her press conference, Ms. Yellen stressed that the exit plan “is in no way intended to signal a change in the stance of monetary policy.” The Open Market Committee vote also included two hawkish dissents, from regional bank presidents Richard Fisher and Charles Plosser. Those men have often been right but never decisive in Fed councils.

Maybe because they´re so often right they´ve got “nicknames”. RF is known as Richard (“Inspector Clouseau”) Fisher while CP answers to Charles (“sooner rather than later”) Plosser.

Aren´t we lucky they´re not decisive?

One thought on “Mama Mia!

  1. Fisher predicted we would “skirt the recession” in 2008. And Plosser and Fisher are both right that by now inflation should be runaway and exploding.

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