Fed minutes suggest few worries of economy overheating – NYT

New York Times/Jim Tankersley/5-23-2018

“Federal Reserve officials gave no indication that they are likely to speed up their pace of interest rate increases during their most recent two-day meeting, suggesting instead that they would be willing to allow the inflation rate to rise slightly above 2 percent for a ‘temporary period, while the economy continues to expand.”

USAGOLD note:  Subtle changes are occurring in Fed policy.  We must remember that the Federal Open Market Committee consists of individuals with differing views and views subject to change.  The Fed is not a monolith and it is not beyond politics and being swayed by imminent economic concerns.  That, in some ways, is what is so silly about investors and speculators hanging on every uttered word, phrase, sentence and paragraph  . . . . . .

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