The Hidden Feedback Loop Behind Rising Prices | The Professor Is In

Why did the Fed hold interest rates, and what is it waiting for?
Justin Wolfers makes a crucial distinction about the Fed’s decision to hold interest rates: there can be a strong case for delaying a hike, but waiting to see September’s hike in next month’s inflation numbers is a weak one. Monetary policy works with delays, and a quarter-point move is hard to isolate amid everything else happening in the economy.
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