, Columnist
Fed Ends With a Whimper. Can Georgia Cause a Bang?
Investors may be underestimating Democrats’ odds of taking the senate, which would clear the way for fiscal expansion.
Eyes on the prize: Democratic victory in Georgia would be a big change.
Photographer: Megan Varner/Getty Images
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In monetary policy, the year ended not with a WAM but a whimper. Jerome Powell did about as little as anyone had thought he could get away with, eschewing new purchases or strict quantitative targets for merely qualitative (in other words, squishy) guidance.