August 06, 2008
Fed's batting average under Bernanke dips
As you know, yesterday the Fed left the target federal funds rate unchanged. In the 30 months since Ben Bernanke became Fed Chairman, now just 10 of 21 FOMC meetings have resulted in either a rate hike or a rate cut, a dip from a .500 to .476 "batting average." NB: in the 30 months prior to Bernanke's term, the Fed had 14 "hits," increasing the FFR 14 times for a total of 350 basis points. Data here.
Posted by Edward J. Lopez at 09:10 AM in
Economics