Fed “forward guidance” blows too much smoke

September 22, 2016 5:07 AM

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The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

The U.S. Federal Reserve is still enabling financial markets. The central bank on Wednesday again declined to raise rates, despite recent remarks from Chair Janet Yellen suggesting an increase was becoming more likely. The Fed counts talking to the market – what it calls giving “forward guidance” – ...

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