[lbo-talk] FOMC correction!

[Mark S]

Doug Henwood wrote:
>
>[never saw one of these before, and it's rather strange, since I'm sure 
>they spend a lot of time obsessing over every comma in these statements - 
>the **'d sentence (the addition) is in bold in the original - the **'s are 
>mine, to preserve plain text - gotta wonder if they saw the market reaction 
>and worried that they were sounding a tad too hawkish]

Keeping in mind the rampant rumor-mongering of the bond market, a bond 
analyst told me that many people agree with the above theory.  He said that 
the initial reaction was to revise upward long-term inflation expectations.  
He thought that such miscommunication could be avoided with some sort of 
explicit U.S. inflation target from the Fed.  I'm still unclear about the 
political implications of inflation targeting...

M.

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