You're the Fed Chairman. What Would You Do?
For this morning’s column, I want you to engage in a little thought experiment. Based on the e-mails readers have sent, many of you figure the Dec. 15-16 Federal Open Market Committee meeting is a no-brainer and that the central bank will raise its benchmark interest rate. Well, let’s put that thesis to the test. To do so, I am making you, dear reader, the chairman of the Federal Reserve. The setup for our barely hypothetical scenario is as follows:
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