Issue 34 – Officially the Fed Eased the Monetary Stance, but the Chairman Pulled the Plug

Two weeks ago, Nick Timiraos, known on Wall Street as the Fed Whisperer, wrote in the WSJ that the Fed’s rate-setters would raise the policy rate another 0.75%, but would likely tame future hikes. On November 2, the Federal Open Market Committee (FOMC) did exactly that. It increased the target rate range by 0.75% to 3.88%, as its Chairman had primed markets to expect, and indicated that future rate increases, if any, would be moderate.


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By Hubert Marleau

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By Hubert Marleau

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