Posted To: MBS Commentary
If we wanted to do as little as possible to overcomplicate yesterday's Fed news, we might focus on the fact that the Fed took their greatest strides yet in adding a new dimension to their job description. We're talking about the mention of "recent global economic and financial developments" putting downward pressure on inflation. The argument that this circuitously leads back to the Fed's inflation mandate is too much of a stretch. If the Fed speculated on every threat to its mandates, they couldn't possibly function. They must necessarily wait for actual trends in inflation and labor markets before acting. It's not their job to speculate on the Chinese economy and its effects on domestic inflation and job growth. Nevertheless, they've made it their job, and...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
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