Zombies and Zealots

I’m sure you’re familiar with someone who thinks they’re a Big Deal. Your boss, that weird cousin on Facebook, your toddler. No corner of society is immune from a puffed-up sense of self, and you know the government is no exception.
The Fed wants us to believe that its every move – every press conference, every meeting, and every quote in the papers – is a Big Deal. It really does take itself quite so seriously, but its recent history shows we don’t have to take it all that seriously.
Remember, the Fed promised four rate hikes last year and only delivered once, but with the amount of ink spilled on their press conferences and coffee orders (only sort of joking) you’d think they tried to create a whole new U. S. economy.
This year, it’s promised three rate hikes and according to its statement after the conclusion of this year’s first meeting, nothing has changed.

This post was published at Wall Street Examiner by Lance Gaitan ‘ February 10, 2017.