Act or Wait? Fed Debate Heats Up After Inflation Misses Target

Former Federal Reserve Chairman Alan Greenspan, in year nine of a U.S. economic expansion, conceded in 1999 that patience was sometimes a better policy than his doctrine of preemptive interest-rate moves because “the future at times can be too opaque to penetrate.” For some Fed officials, these d...

Act or Wait? Fed Debate Heats Up After Inflation Misses Target