The Old Normal
Last week, the Fed announced that it would not raise the Fed Funds rate in September. By our way of thinking, though, they left the door open for future increases (data dependent). This left us pondering whether the current Fed Funds Rate is restrictive or not (we think that many of the talking heads are suffering from recency bias, or we may be...
Last week, the Fed announced that it would not raise the Fed Funds rate in September. By our way of thinking, though, they left the door open for