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The Fed’s Mistake
Saturday, January 2, 2016 20:58
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by Dean Baker, Center for Economic Policy Research
The Fed’s decision to raise interest rates in December was an unfortunate move in the wrong direction. In setting interest rate policy the Fed must decide whether the economy is at risk of having too few or too many jobs, with the latter being determined by the extent to which its current rate of job creation may lead to inflation. It is difficult to see how the evidence would lead the Fed to conclude that the greater risk at the moment is too many jobs.
Source: http://econintersect.com/pages/opinion/opinion.php?post=201601022104
