Redacted Version Of The December 2016 FOMC Statement

David Merkel
By David Merkel of The Aleph Blog
Founder, Aleph Blog •

The FOMC tightens 1/4%, but deludes itself that it is still accommodative. The economy is growing well now, and in general, those who want to work can find work.

Comments

  • The FOMC tightens 1/4%, but deludes itself that it is still accommodative.
  • The economy is growing well now, and in general, those who want to work can find work.
  • Maybe policy should be tighter. The key question to me is whether lower leverage at the banks was a reason for ultra-loose policy.
  • The change of the FOMC’s view is that inflation is higher. Equities and bonds fall. Commodity prices fall and the dollar strengthens.
  • The FOMC says that any future change to policy is contingent on almost everything.

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