What Has Been the Federal Reserve’s Biggest Policy Blunder?
Former Global Chief Economist for JPMorgan Chase (Ph.D. in Economics & Current BrightQuery Chief Economist)
Without a doubt, it was waiting too long to raise its policy interest rate (e.g., the federal funds rate) until inflation rose to unacceptable levels. Nonetheless, what eludes most Fed critics, who seem to believe this is the Federal Reserve’s most significant blunder of all time, is that this has happened many times before. Although making the same …
Keep reading with a 7-day free trial
Subscribe to The People's Economist with Anthony Chan to keep reading this post and get 7 days of free access to the full post archives.