Economists inconsistency on expectations over Fed decisions..

A nice post on how the big guys just changed their views over Fed policy despite lack of any evidence.

The hawkish swing is dramatic. In April 40% of respondents thought the Fed should wait for core inflation to rise. In December, even though core inflation had not risen at all, only 19% didn’t think the Fed should raise immediately. What’s going on?

Much of macro does not make sense. One just goes with the times..

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