Mises Wire
Author:
David Stockman
Online Publish Date:
Simple Janet should have the decency to resign. The Fed’s craven decision last week to punt on interest rate normalization is not merely a reminder that she is clueless and gutless; we already knew that much. Given the overwhelming facts on the ground — 4.9% unemployment, 2.3% core CPI, and a 23.7X PE multiple on the S&P 500 — her decision to