A Nothingburger Snoozefest From the Fed. Should We Be Worried?
Here’s something to chew on: One of the dullest FOMC meetings in recent memory came as the U.S. was building up to the financial crisis.
Wake us up when the crisis gets here.
Photographer: Express/Getty Images
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The Federal Open Markets Committee of the Federal Reserve completed a meeting Wednesday, and made a statement about it. Then its chairman, Jerome Powell, gave a press conference. Only those with a deep interest in monetary economics can possibly have found it very interesting. My colleague Tom Keene described the statement as a “nothingburger snoozefest” after it came out, and the word “nothingburger” recurred in many of the emails of snap analysis I received about the meeting as the afternoon progressed.