by Daily Bell Staff
The Daily Bell
The Fed’s Amazing Self-Fulfilling Forecast … The Federal Reserve’s track record of economic forecasting is a lot better than many observers recognize. It might also offer some insight into the central bank’s approach to managing the recovery. – Bloomberg
This Bloomberg article makes the point that the Federal Reserve is competent.
Worrisomely, such articles tend to appear at the top of the business cycle. For proponents of central banking any gradually, sustained upturn is an excuse to celebrate central bank supervision.
This sort of propaganda is endlessly present at Bloomberg. Let the last cyclical economic disaster finally begin to fade from memory and Bloomberg columnists proclaim Fed competence once again.