Fed Shuffles Words Around. Flags ‘Progress’ In QE Language

This is a good time to remind everyone that we needn't suffer through a press conference after every, single FOMC meeting. We're doomed to that fate because Jerome Powell decided, early in his tenure, that more pressers would "improve communication." Given how many Fed officials markets hear from every week (save blackout weeks), the risk was always over-communicating. It's certainly not about "transparency." If Fed policy is beholden to markets (which it pretty clearly is), that's as "transpa

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