Former Philly Fed President, Key Player in FOMC's 2012 Framework Agreement Says 25 Framework Needs to Get Back to Its Roots and to Emphasis on Price Stabillity
Nicely balanced, perhaps sitting on the fence, but some admissions of mistakes that I expect one feels more willing to make as one gets older. Again, I like the final comments ... "The Fed is sitting on a precipice...it should sit tight" (and who knows what it can do next). Perhaps this explains why expectations are for rate cuts, whilst at the same time yields continue to rise.
Nicely balanced, perhaps sitting on the fence, but some admissions of mistakes that I expect one feels more willing to make as one gets older. Again, I like the final comments ... "The Fed is sitting on a precipice...it should sit tight" (and who knows what it can do next). Perhaps this explains why expectations are for rate cuts, whilst at the same time yields continue to rise.