The Fed's Best Move Is No Move

The Federal Reserve has often been condemned for sitting on its hands during critical junctures in the business cycle. With the data now showing that recession is giving way to a recovery that could be surprisingly strong and durable, this is one of those key moments. The question now is whether the Fed needs to do more to maximize the chances that the U. S. economy will flourish. The answer is no. The Fed is doing exactly what it should be doing--zilch.

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