Pantheon Macroeconomics - If the Fed really believed its own rhetoric--"Inflation is expected... to rise to 2 percent over the medium term as the transitory effects of past declines in energy and import prices dissipate and the labor market strengthens further"--it would have raised rates yesterday, given the very long lags between policy action and the response from the real economy.

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16 June. 2016 Don't Fret Over One Jobs Report, Says Yellen, Doing Exactly That

By Ian Shepherdson

If the Fed really believed its own rhetoric--"Inflation is expected... to rise to 2 percent over the medium term as the transitory effects of past declines in energy and import prices dissipate and the labor market strengthens further"--it would have raised rates yesterday, given the very long lags between policy action and the response from the real economy.

Posted: 16th Jun 2016 in 'U.S. Documents'

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