The Federal Reserve may have made a huge mistake

“If the recovery does come to a premature end, then, it won’t be because of low oil prices or China or whatever else you might hear. It will be the same old story: a Federal Reserve that underestimated how much it had already tightened policy, and overestimated how strong the economy really was. The good thing about mistakes, though, is that you don’t have to keep making them.”

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