22 Mar The Central Bankers’ Dilemma; Was Pax Americana Good for America?*

The Central Bankers’ Dilemma On March 30th, the Federal Reserve announced that it does not intend to increase interest rates in 2019. It has put its Quantitative Tightening (QT) program on indefinite hold. Recall that it was only in November that Fed-watchers were forecasting...