How do you solve a problem like the FOMC?

A James Alexander post

I wasn’t sure whether the title of Marcus Nunes’ last post was from the Neil Diamond song or The Sound of Music. My favourite from the latter is the one where the convent’s Reverend Mother leads the other nun’s in a song worrying about their wayward novitiate, Maria.

It reminded me of the rate-setting FOMC at the Fed, only reinforced by the recent excellent post at Economics21. What do the Fed want to achieve? They should tell us.

R. Mother: How do you solve a problem like the FOMC
How do you catch a cloud and pin it down
Margaretta: How do you find the word that means FOMC
Catherine: A flibbertigibbet
Sophia: A willow the wisp
Berthe: A clown
R. Mother: Many a thing you know you’d like to tell her
Many a thing she ought to understand
Berthe: But how do you make her stay and listen to all you say
R. Mother: How do you keep a wave upon the sand
Margaretta: How do you solve a problem like the FOMC
R. Mother: How do you hold a moonbeam in your hand
Sophia: When I’m with her I’m confused, out of focus and bemused,
and I never know exactly where I am…
Agatha: Unpredictable as weather
Catherine: She is flightly as a feather
Margaretta: She’s a darling
Berthe: She’s a demon
Margaretta: She’s a lamb
Sophia: She’d out pester any pest; drive a hornet from it’s nest
Agatha: She could throw a whirling dervish out of whirl
Margaretta: She is gentle; she is wild
Catherine: She’s a riddle; she’s a child
Berthe: She’s a headache
Margaretta: She’s an angel
R. Mother: She’s a girl…
All: How do you solve a problem like FOMC

With thanks to Sound of Music

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