Ben Bernanke's tumultuous and newsworthy tenure running the Federal Reserve ended with a whimper today. The final FOMC statement of his era is almost unchanged from the previous one and even that overstates it, as the changes almost all involve tense switches to reflect the fact that it's a month later.
I'm slightly scratching my head at this one: "Labor market indicators were mixed but on balance showed further improvement." That's certainly true over a three or six month horizon, but the most recent data we've seen on the labor market didn't seem to me to show much sign of improvement. Onward to the Yellen era!
TODAY IN SLATE
Don’t Worry, Obama Isn’t Sending U.S. Troops to Fight ISIS
But the next president might.
The Extraordinary Amicus Brief That Attempts to Explain the Wu-Tang Clan to the Supreme Court Justices
Amazon Is Officially a Gadget Company. Here Are Its Six New Devices.
The Human Need to Find Connections in Everything
It’s the source of creativity and delusions. It can harm us more than it helps us.
How Much Should You Loathe NFL Commissioner Roger Goodell?
Here are the facts.
The Plight of the Pre-Legalization Marijuana Offender
What should happen to weed users and dealers busted before the stuff was legal?