The Fed Does Nothing
At February's meeting, the Fed elected to keep kicking the can down the road.
At February's meeting, the Fed elected to keep kicking the can down the road.
Now that the Fed has slightly upped its Fed Funds rate target twice, there is talk of a much more ominous issue: shrinking the balance sheet.
If a monetary rule like the Taylor Rule is not a solution to the problem of the Fed, what is? Competition.