While it is easier to read the intentions of Federal Reserve policy
makers than it was several decades ago, their statements and
speeches can still be confusing, leading investors to make mistakes.
We will tell investors how to figure out what Federal Reserve
policy makers are doing as they are doing it, and we roll out
our favorite leading indicator of Fed policy. But one old adage is
still true—do not bet against the Fed. And do not doubt the policy
makers’ anti-inflation commitment. They would still rather
risk a recession than see a resurgence in inflation.
makers than it was several decades ago, their statements and
speeches can still be confusing, leading investors to make mistakes.
We will tell investors how to figure out what Federal Reserve
policy makers are doing as they are doing it, and we roll out
our favorite leading indicator of Fed policy. But one old adage is
still true—do not bet against the Fed. And do not doubt the policy
makers’ anti-inflation commitment. They would still rather
risk a recession than see a resurgence in inflation.
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