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incompetence

Friday FOMC Memories: Fair Is Fair

By |2014-03-14T16:51:32-04:00March 14th, 2014|Economy, Federal Reserve/Monetary Policy, Markets|

It is somewhat of a fair criticism that playing armchair quarterback years after events unfolded amounts to lazy or devalued analysis. Picking apart assessments with the full benefit of hindsight is seemingly unfair to the participants and targets of any reproach. It also may appear to be irrelevant to spend so much time when current events demand more attention and [...]

Friday FOMC Memories: Absurdity

By |2014-03-07T12:52:04-05:00March 7th, 2014|Economy, Federal Reserve/Monetary Policy, Markets|

The day after Lehman Brothers failed, the FOMC gathered to discuss how to conduct monetary business in the wake of the turbulence that decision created. Every single participant was willing to roll the dice on standing pat for two very big reasons. First, they felt that had been aggressive enough to counteract any downside, and that being aggressive in that [...]

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