Mises Institute Associated Scholar Ryan McMaken asserts Fed has no good idea what to do next, so leaves rates unchanged
McMaken claims at the first sign of systemic problems, despite Fed jawboning, their knee-jerk reaction will be to lower rates—probably rapidly, as Fed bankers are politically sensitive, and crises aren’t good politics. Easier to kick cans down the road, let inflation run largely unabated than risk a meltdown
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