Every rate decision is just the Fed managing a business cycle they helped create by holding rates near zero for a decade. At some point people should question why seven unelected people get to set the price of money for the entire country.
On nytimes.com — see it on the live page
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Covered three FOMC cycles as a reporter. The "just let the market set rates" version of this argument sounds great until you remember what discretion-free monetary policy did in 1929 and 2008. Someone has to be able to move fast.