Richmond Fed President Jeffrey was on Fox News on the weekend and touched on the economy. “Given the economic challenges we’ve faced, I think this economy has turned in an excellent performance,” he said. “The unemployment rate has come down from 10 percent to 5.9 percent and inflation is low and not a problem.” That doesn’t sound like a hawk. “Next year, some time, it looks plausible that we’ll start needing to increase interest rates and we’ll try and time that carefully, given what the economy needs,” he said. That doesn’t either. I think the Fed can bring rates up to 1.00%, if only to give themselves some ... (full story)