We’re down to two jobs reports and two Federal Reserve meetings left this year, and the economic climate is beginning to feel a lot like the end of last year — with a renewed push for higher rates from some members of the Federal Open Market Committee, even as the data continue to show a strengthening labor market with no signs of inflation.
So, what’s going on? We’re in the middle of a pretty fundamental debate about what monetary policy is supposed to do.
The above excerpt was originally published in MarketWatch.
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