The Fed admits the markets were right (via M_C_Klein)
Last year, Federal Reserve officials raised short-term interest rates faster than they had initially planned because the U.S. economy grew more than they had initially expected. The results of their latest monetary policy meeting, which took place this past week, imply that many of those officials now think they made a mistake.
They could have avoided that mistake if they had heeded the lesson of 2015-16: Pay more attention to the signals coming from financial markets and focus less on data describing events that have already... Subscribe or Sign In to continue reading.
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