The Fed has risen too far above political control
The problem with the Fed is that the need for stability — and for avoiding market shocks — cuts across the desire to exert more democratic control over the central bank.
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The problem with the Fed is that the need for stability — and for avoiding market shocks — cuts across the desire to exert more democratic control over the central bank.
Policymakers have been betting that inflation will cool over the coming year, but it could last much longer than they think.
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(Bloomberg) -- Like everyone on Wall Street, four-decade market veteran Bob Michele is on guard for the kind of inflation bogeyman that would force the Federal Reserve to hike sooner than expected. The chief investment officer at J.P.