It’s going to be a busy week with your ‘highlight’ being the FOMC meeting on Wednesday. Let's face it, the FOMC meeting is likely to be a snoozer with a bunch of non-answers on topics like tariffs, rising inflation expectations and just about everything else.
Besides, you’ll be spending all week filling out your March Madness brackets and then pretending to work on Thursday and Friday as you watch tournament games.
As we’ve done before we’re going to take a break from all the noise.
Starting with today and for the balance of this week you’ll get one quote/passage from a book that I think could be relevant to the Federal Reserve. Each day’s passage will be from a different book. Your job is to identify the book and post your answer along with any thoughts you have related to the passage in the comments. Sure, go ahead and use your favorite AI or search engine if you want, but bragging rights for those who don’t.
Today’s Quote/Passage:
Given so much uncertainty, he was convinced that the Federal Reserve should not try to make itself and arbiter of equity prices….Drawing a rather stretched analogy between the Federal Reserve and its various and conflicting objectives for the economy and a family burdened by many children, he ruminated, “Must we accept parenthood for every economic development in the country? That is a hard thing for us to do. We would have a large family of children. Every time one of them misbehaved, we might have to spank them all.”
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