The Fed Needs to Rewrite Its Playbook
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The bad side of Fed communications helped get us into this inflationary mess in the first place.
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U.S. Treasury yields rose after the Fed cut short-term rates.
Markets embraced the central bank’s spirit of dovishness following the big rate cut this past week.
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If stocks already were due for a tumble and the economy for a recession, the Fed’s rate cut probably didn’t...