The Alan Blinder Economic Outlook
Following each meeting of the Federal Reserve’s Federal Open Market Committee (FOMC), Promontory Interfinancial Network co-founder, former vice-chair of the Fed, and Princeton economist Alan Blinder provides an analysis of the proceedings and implications for future policy and economic activity.
Well, they came, they saw, and they concurred—except for Neel Kashkari of Minneapolis who dissented. The Federal Open Market Committee (FOMC) came to Washington in a snowstorm, saw that the economy looked almost exactly the same as it did at their previous (January) meeting, and concurred with the market’s near-unanimous opinion that they would move the federal funds rate range up by 25 basis points. No one was surprised, and the markets smiled benignly. Read more.