Back in the days before the Great Recession, it was hard to pick up the business section of a newspaper (yes, we had newspapers, and business sections, then) that didn’t have some version of a column asking, “When Will the Fed Raise/Lower Interest Rates?”
Fed watching columns were a staple of the business press, and the terse utterances of the central bank following meetings of the Federal Open Market Committee were parsed with Jesuitical precision.
Read Full Article »