Janet Yellen’s job: The Federal Reserve has economic and political headaches

Posted: December 15, 2016 in economy
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The Fed was right to raise rates this week. It should be cautious about its next move

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Janet’s job

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WHEN, a year ago, the Federal Reserve raised interest rates for the first time since the financial crisis, it did not intend to dilly-dally. Rate-setters pencilled in four more rises for 2016. In the end it took until this week for the Fed to lift rates again, to a target range of 0.5-0.75%. The delay reflected both a wobbly world economy and the Fed’s realisation that the structural forces keeping rates low, such as slow productivity growth, are more powerful than it had previously thought.

The Fed was right to sit on its hands for a …

via Economic Crisis http://ift.tt/2gOzIjS


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