Wednesday, January 7, 2015

Pedro Nicolaci da Costa at the WSJ is wrong

He says: The U.S. central bank brought interest rates to near zero in December 2008
Wrong, again for the WSJ.  Ben was trying to stop the slide at the time, the market brought rates down.  Look at the bond portfolio, look at the target and look at the effective rate.  It was Ben chasing the market down hill over the entire period.  Its an important point, and the WSJ blogs get this wrong every time. Why do they quote the standard line instead of actually looking at the data?

No comments: