Rules And Discretion In Action

March 5, 2016 8:28 AM

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Sometimes we all get stuck in a rut - and my rut has been the Federal Reserve's decision to raise the federal funds rate in December and their continuing publicity to support why this action was taken. It is not because the federal funds rate should not have been raised, but the timing and the rationale were far from valid.

I find Wikipedia a good resource when you have little knowledge because it brings the conversation to basic definitions and understandable levels - but you cannot use it as a resource to disassemble and reassemble the automatic transmission in your 1958 Edsel Ranger. Here is what ex-chair of the Fed...

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