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The Fed Has No Idea How To Tell The Market It's Going To Raise Rates
The Federal Reserve just released the minutes from its latest monetary policy meeting. The market didn't seem that interested, as stocks were little changed after the release. And while there were some interesting headlines about how the Fed sees the global economy and its own economic projections, the big takeaway is this: the Fed has no idea how to tell the market it is going to raise rates. Towards the end of the minutes, there is a big dense paragraph about the Fed's communications regarding interest rates over the "medium term." And in short, the Fed doesn't know how it wants to signal the future course of ... (full story)