I’ve got to admit that I really have no opinion whatsoever on the adequacy or inadequacy of the Fed’s quarter-point rate cut (clearly I have no future in monetary policymaking). But it is interesting that the rate cut and its size were pretty much what recent Fed economic forecasts and pronouncements by Fed officials had [...]
I was in the airport this morning about to catch a flight to Detroit when I saw the big headline in the FT: “Putin favours liberal as successor.” Interesting, I thought. Then I saw the headline in the WSJ, which didn’t say anything about Dmitri Medvedev being a liberal: “Putin Chooses Young Loyalist as Successor.” [...]
