Summary: What will the Fed do during the next few months? They try to clearly communicate their plans, so we need only listen. Unfortunately we have to read between the lines to see their thinking. Such as we see with this speech by Dennis Lockhart (President of the Atlanta Fed): “Assessing Economic Conditions for Liftoff“, in which he shares his analysis of the US economy. Here’s a comparison of what he says and reality. The reason for the difference reveals much not just about the economy, but about how the Fed and the US government relates to we the people. {This is the first of two posts today.}
See my analysis at Wolf Street. I think you’ll find it time well spent.
