It is the absence of any recognition of the asymmetric power of the Federal Reserve’s policy tools that leaves me most puzzled by the extremely-sharp Marty Feldstein this morning: Martin Feldstein: The Fed Needs to Step Up Its Pace of Rate Increases: “The Federal Reserve[‘s]… projected path for increasing the short-term federal-funds rate over the … Continue reading Department of “Huh?!”: Martin Feldstein and the Interest Rate Path Edition