Market Response Doesn’t Mean the Fed Is Useless
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S. (Photographer: Michael Nagle/Bloomberg)

Market Response Doesn’t Mean the Fed Is Useless

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(Bloomberg Opinion) -- Financial markets met Tuesday’s emergency interest-rate cut with a fresh wave of equity selling and bond buying. This probably wasn’t the reaction Federal Reserve Chair Jerom...
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