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Daniel Moss

The Fed Is Asking Questions, Not Providing Answers

It would be cause for concern if policy makers acted too confident. The economy is not following models.
Answers are easy. Questions are harder.

Answers are easy. Questions are harder.

Photographer: Chip Somodevilla/Getty Images

The Federal Reserve is either lucky or clever.

By signaling that it won't touch interest rates again until December, it's bought itself time to have a longer -- and much needed -- conversation about inflation. Good. There are very legitimate doubts that traditional models explain what's happening or, rather, what's not happening.