Think You Know What the Fed Will Do? Think Again

The most recent deliberations among Federal Reserve officials point to a central bank that is at its most divided self since the financial crisis.

True, the voting among Open Markets Committee members casts the appearance of near-unanimity, a credit to outgoing Chairman Ben Bernanke's skills at consensus building or at least the appearance thereof.

But within the minutes of the December meeting is a Fed standing at the crossroads of a post-crisis economy being guided by mid-crisis monetary policy.

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