European Unemployment and Fed Reserve
August 5, 2013•12 min
European Unemployment and Moderate vs Modest - The Guide Rock Capital Weekly Market Commentary Aug 5 - FT037
You say to-may-to. I say to-mah-to.
You have to be a careful reader to keep up with the Federal Reserve these days. Last week, the Fed re-characterized the pace of economic growth in the United States from ‘moderate’ to ‘modest.’ According to Wall Street Journal blog, Real Time Economics, “economic data show that ‘modest’ is a touch weaker than ‘moderate.’” No matter how you parse the difference, it was enough to prevent the Fed from beginning to normalize monetary policy by cutting back on bond buying.
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