This, from Bloomberg, conveys the (correct) notion that the #FederalReserve’s interest rate signaling is a hostage of the fluctuating winds caused by high-frequency data releases that capture both noise and signals in changing importance.
It speaks to something I have been stressing: After the embarrassing 2021 policy mistake, the #Fed became excessively data-dependent, adding to volatility rather than providing a strategic anchor.
No comments:
Post a Comment