Will The Fed Repeat 1970s Policy Mistakes? – OpEd

By Vance Ginn 

The Federal Reserve’srecent decisionto cut the federal funds rate by 50 basis points to a range of 4.75 percent to 5 percent, despite inflation still exceeding its 2 percent target, bears alarming similarities to the monetary policy missteps of the late 1970s. Back then, under pressure to stimulate economic...