(Bloomberg Opinion) — There are many possible reasonable reactions to the Federal Reserve’s late move to raise its rate target by a quarter of a percentage point last week. I would find it difficult to compare current Fed Chair Jerome Powell to Paul Volcker as one of them, as some have done. Volcker, as you may recall, was the chairman of the Fed who pushed through a series of very sharp rate hikes that ended soaring inflation…

This post Central bank predictability and laziness have their costs was original published at “https://www.bloombergquint.com/gadfly/central-bank-predictability-and-sloth-have-their-costs”


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