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- Search found 2 items for:
- Joseph T. Salerno
- 2001
Mises Daily
Author:
Joseph T. Salerno
Online Publish Date:
On February 1, 2001, the day after the Federal Open Market Committee (hereafter, FOMC) cut the target Fed funds rate by ½ percentage point, The Wall Street Journal published a front-page article under the headline “Psychology Test: Latest Fed Rate Cut Combats a Contagion of Low Confidence.” The opening sentence reads: “With yesterday’s half-point