Past Article
A Hold Is Not an All-Clear
September's unanimous increase and October's 10–2 pause can both be true. Neither document says inflation is finished.
Section
Opinion
Commentary and analysis on markets, policy, and the economy.
- Past Article
An Argument Still Needs a Source
Opinion is not a license to invent the tape. It is a license to say what you think the tape means.
Photo by Umberto on Unsplash - Past Article
What 'Data Dependent' Is Allowed to Mean
The phrase is not a plan. It is a refusal to publish a plan. Treat it that way.
Photo by Denys Nevozhai on Unsplash - Past Article
The Archive Is the Newspaper
A daily that cannot show its work from last year is a feed. The case for keeping the old pages up.
Photo by Tomas Eidsvold on Unsplash - Past Article
What a Dissent Is
A vote against the action is a sentence in the statement. It is not a rebellion, and it is not a forecast.
Photo by Franki Chamaki on Unsplash - Past Article
Two Percent Is a Target, Not a Promise
The inflation goal is a stated aim. A single month above it is not a broken institution, and a single month at it is not victory.
Photo by Shen Pan on Unsplash
