WSJ Fedwatcher Jon Hilsenrath is out with two articles today.
The first looks the path of rate rates, or more accurately, the philosophy of the path of rate hikes.
Should the Fed start raising rates early and proceed gradually, or wait longer and be ready to move rapidly? Before they decide when, officials need to weigh the costs and the benefits of these two approaches.
The second is a fuzzy look at Janet Yellen’s start at the Fed:
As vice chairwoman of the Federal Reserve, Janet Yellen was an unabashed advocate of easy money who pressed colleagues to embrace her view.
As chairwoman she has taken a much different approach, becoming a restrained consensus seeker modeled after her predecessor, Ben Bernanke.
