Ethan Harris
Ethan Harris
approach changing figure impossible language policy problem
This has been a fundamental problem with the Fed's whole approach to policy making, ... By changing their language so frequently, they make it impossible to figure out what they're doing.
approach cautious consumer fed handle higher interest medicine nurtured patient recovery shock worried
The Fed is going to take a cautious approach (because) they're worried about how the consumer will handle higher interest rates, ... We've had recovery nurtured on super-low interest rates. They don't want to shock the patient by withdrawing the medicine too quickly.