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gonzalo schwarz

Seeing is NOT Believing at Today’s Fed

Federal Reserve Chairman Ben Bernanke’s new policy of openness has much to recommend it, in that it gives the markets information about current and future monetary policy that removes some of the guesswork of years past. But now that traders and investors have better insights into the thinking of Fed policy makers, they don’t seem to be acting on that knowledge. Seeing is not believing, apparently.

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