they stated it
Posted on: August 14, 2019 at 14:49:41 CT
meatiger MU
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Cannot remember the exact number. They were clear in their intentions and stuck to the plan...and then it came unraveled, and that is when volatility spiked, along with the trade wars. The reason to move was less about inflation versus moving to a point where they could lower rates in the future, or they felt the move to lower rates that were needed in the past, were no longer needed.
I guess part of it is this...do you consider where you are at currently to be "normal" and only move from there if there is a need, or do you pick a point that is long term normal, with a goal of getting there unless there is a need to be below or above normal. I don't know the answer to that.