Mainstream criticism of FOMC

As mainstream economists, the Fed knows it took a very large risk when it cut aggressively, hoping its forecasts for ‘moderating inflation’ would play out, and knowing the following would happen if ‘inflation’ accelerated. Bernanke May Regret Interest-Rate Cuts, Lawson Says by Kim-Mai Cutler (Bloomberg) Former U.K. Chancellor of the Exchequer Nigel Lawson said Federal Reserve Chairman [...]