Monetary Policy

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The Case for Lowering the Fed's Inflation Target

FMI’s Commentary on proposals to raise the Fed’s official +2% inflation target.

On What Data Will the Data-Dependent FOMC Depend?

FMI’s Commentary on what “data dependence” will mean for the Fed.

One Soft Jobs Report Will Not Derail Fed’s Rate-Hike Plans

FMI’s Commentary on the impact, or lack thereof, of the weak March employment report on the timing of the first funds target rate hike and on takeaways from the Minutes of the March FOMC meeting released this afternoon.

Never Mind: Yellen Backtracks on Sluggish Wage Concerns

FMI’s Commentary about Janet Yellen’s evolving view of wages and the fickleness of the data-dependent Fed.

Fed Is Ready for June Rate Hike; Economy Likely Will Be Too

FMI’s Commentary addressing questions raised in the wake of this week’s FOMC meeting.

FOMC Forecasts Turn More Dovish, But Rhetoric Stays Hawkish

FMI’s commentary on today’s FOMC post-meeting statement and Yellen news conference.

The Economic and Investment Outlook March 2015

FMI's complete March 2015 Economic & Investment Outlook

Yellen Stays on Course for Mid-Year Rate Hikes

FMI’s commentary on Janet Yellen’s Congressional testimony today.

Markets Are Underestimating Fed Resolve to Raise Rates

FMI’s commentary on gap between the FOMC “dot plot” and fed futures expectations for the funds target rate.

Fed Minutes: Yellen Still Headed for Mid-2015 Rate Hike

FMI’s commentary on the January FOMC minutes released this afternoon.