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Proof the Federal Reserve Has No Idea What It's Doing
The minutes from last month's Federal Open Market Committee (FOMC) meeting provided zero clarity on the U.S. Federal Reserve's plans to raise interest rates in 2015. The markets need to know when the Federal Reserve might raise interest rates, or at least what economic conditions it will use to make the decision.
But all we get from the Federal Reserve is waffling. And the economic targets that would trigger action get increasingly vague. Meanwhile, the Fed members make things worse by publicly voicing their uncertainty.
The minutes from last month's Federal Open Market Committee (FOMC) meeting provided zero clarity on the U.S. Federal Reserve's plans to raise interest rates in 2015. The markets need to know when the Federal Reserve might raise interest rates, or at least what economic conditions it will use to make the decision.
But all we get from the Federal Reserve is waffling. And the economic targets that would trigger action get increasingly vague. Meanwhile, the Fed members make things worse by publicly voicing their uncertainty.