entertainment

At the Wall Street Journal, Fed-watcher Timiraos writes that with government measures of inflation having “fallen much faster than expected,” nominal interest rates “adjusted for inflation” have “risen and might be restricting economic activity too much.” He worries that the nothing of notion of “rising real rates” signals great peril for the U.S. economy, and the Fed that allegedly plans it. The good news is that rates aren’t uniform because people aren’t.