The Fed's Role in Tightening Monetary Policy

Mike Downey: The Fed is not really looking to go out and acknowledge in a major way their culpability. He says they're going to play it carefully and we will punt on a decision or on forward guidance for now until we get a better read on the economy. "I don't think the Fed has acknowledged the fact that the monetary policy regime that they followed, which was to be purposefully late in tightening monetary policy," he said.