The Alan Blinder Economic Outlook
Following each meeting of the Federal Reserve’s Federal Open Market Committee (FOMC), Promontory Interfinancial Network co-founder, former vice-chair of the Fed, and Princeton economist Alan Blinder provides an analysis of the proceedings and implications for future policy and economic activity.
The Federal Open Market Committee meeting that ended Wednesday was probably not as boring as the official statement made it appear. The most “exciting” thing in the statement was a new sentence: “Measures of consumer and business sentiment have improved of late.” Markets snap to attention on new sentences and seem to have read this one correctly: The FOMC is getting happier about the economy. But that’s pretty small beer. Read more.