Interest on Fed reserves is the wrong market policy to criticize

The Federal Reserve would have no great prestige. It would be a modest accounting agency that was carrying out a simple mechanical job. And it would have occurred to more people than me up to now that you might as well replace it with a computer. So it was not in the self-interest of members of the Federal Reserve System to adopt that policy.

WHY THEY CHANGED – Here’s what Steve Moore told me on his conversion: “I think I was wrong on being so hawkish. could complicate a decision for the Federal Reserve late this month on whether to cut.

Markets drop as Fed signals it's not done raising interest rates yet It was, once again, one of the worst kept secrets in economic history. Just like it did a year ago, the Federal Reserve on Wednesday sent its key short-term interest rate up by a quarter of a.

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