Mises Daily
Author:
Joseph T. Salerno
Online Publish Date:
On February 1, 2001, the day after the Federal Open Market Committee (hereafter, FOMC) cut the target Fed funds rate by ½ percentage “Psychology Test: Latest Fed Rate Cut Combats a Contagion of Low Confidence.” The opening sentence reads: “With yesterday’s half-point interest rate cut, Federal fact he was elated when he found that his position as Fed chairman gave him ready access even to information from the competitors of his consulting firm’s clients,