Parsing the Fed
The WSJ does their usual thorough job in parsing the Fed's Statement:
click for full story
Source:
Inflated Inflation Worries
March 21, 2007
http://online.wsj.com/public/resources/documents/info-fedparse0703.html
Wednesday, March 21, 2007 | 11:30 PM | Permalink
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The Fed's position seems to be that the only thing that really matters is that consumers keep consuming, and this means keeping interest rates low even if that happens to allow inflation to spiral.
Fortunately, Big Ben doesn't have to rely on the Antoinette-ish "Let them eat cake," as food is too volatile to count in inflation.
Posted by: Winston Munn | Mar 21, 2007 11:58:20 PM
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