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
Black people’s disdain for “proper English” and academic achievement is a myth.
Hong Kong’s Protesters Are Ridiculously Polite. That’s What Scares Beijing So Much.
The One Fact About Ebola That Should Calm You: It Spreads Slowly
Natasha Lyonne Is Coming to the Live Culture Gabfest. Are You?
A Jaw-Dropping Political Ad Aimed at Young Women, Apparently
How White Boy Rick, a legendary Detroit cocaine dealer, helped the FBI uncover brazen police corruption.
How Even an Old Hipster Can Age Gracefully
On their new albums, Leonard Cohen, Robert Plant, and Loudon Wainwright III show three ways.