Is the Federal Reserve Making a Mistake?

The relationship between monetary policy and the economy is not quite so ironclad as some people want to give it credit for. buying mortgage bonds in february and then tightening in march is going to go down as one of the three or four greatest errors in federal reserve history they held on to the transitory view too long. The next cpi that comes out is going to be 0.5 percent on the headline 0.4 percent of the core that's like a completely unacceptable level of inflation especially this far into a so-called disinflation about the about the long and variable legs conversation.

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