Thursday, June 02, 2005
Economy: Steady as she goes
This is an excellent piece by Larry Kudlow on the state of our economy, including future predictions, inspired by comments from Dick Fisher, the new president of the Federal Reserve Bank of Dallas.
The buzz is that the Fed has succeeded in holding down inflation and that the tightening cycle is coming to an end.
It’s too early to expect a formal policy comment to this effect. But it’s clear there’s a considered view within the central bank that economic and inflationary conditions are far better than the predictably dour and declinist mainstream media would have us believe.