, Columnist
The Fed Follows a Script, But Inflation Isn't Playing Its Part
Where are the wage increases that should go along with such low unemployment?
Janet Yellen leads the faithful.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
The Federal Reserve still has faith, even if some economic numbers are moving the wrong way.
The minutes of Fed officials' June 13-14 meeting tell us something about the current soft patch in U.S. data, especially inflation.