The Federal Reserve Is Feeling Edgy About Inflation
Market hopes for an easy-going approach from the US central bank have been dashed, for now.
“Hey pal, nice punchbowl you got there. Be a shame if someone were to come along and tip its contents all over your nice clean trading floor, you get me?”
Photographer: Al Drago/BloombergThis article is for subscribers only.
Welcome to the award-winning Money Distilled newsletter. I’m John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money.
The most important central bank in the world (sorry Bank of England, you know I love you, but let’s be realistic here) cut interest rates last night. The Federal Reserve chipped another quarter point off the Federal Funds rate. The move was entirely expected. And yet markets didn’t like it.