, Columnist
Dear Market, Don't Worry, Be Happy. Yours, the Fed
Jerome Powell and his colleagues sent a message that they really mean it this time, and won’t be scared into tightening policy by a pickup in inflation.
Relax. The Fed has your back.
Photographer: Smitt/iStockphoto/Getty Images
This article is for subscribers only.
To get John Authers' newsletter delivered directly to your inbox, sign up here.
As the markets readied for Wednesday afternoon’s announcements from the Federal Open Market Committee, there was apprehension in the air. Macroeconomic data over the last few days have been disappointing, such that the Citi US Economic Surprise Index, which measures how numbers compare to expectations, dropped to its lowest since June: