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Caroline Baum: The flaw in the Fed’s forward guidance is it doesn’t know what it’s going to do
Jerome Powell’s legacy could very well be ‘live by the word, die by the word’. The Federal Reserve’s apparent about-face on the outlook for interest rates has put the central bank in an awkward position of having to defend against accusations of caving to political or financial market pressure. First, a relevant timeline: • Oct. 3: Fed
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Posted: February 5, 2019 Tuesday 06:02 AM