I was alerted by Matt O Brien on Twitter that some [see, for example this NY Times op-ed] are arguing that the Fed and other central banks, who had prefigured an imminent first hike in rates in their speeches, should follow through regardless and raise rates, 'to show some spine', else run the risk of losing inflation-fighting credibility.
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No need to show the wrong sort of spine over…
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I was alerted by Matt O Brien on Twitter that some [see, for example this NY Times op-ed] are arguing that the Fed and other central banks, who had prefigured an imminent first hike in rates in their speeches, should follow through regardless and raise rates, 'to show some spine', else run the risk of losing inflation-fighting credibility.