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EDITORIAL

Feeble US inflation: does the Fed still hold temporary factors responsible?

US Federal Reserve.jpg
For much of this year, the conventional wisdom on Wall Street has been that after seven years of loose monetary policy under which short-term interest rates were pushed to near zero, the US Federal Reserve would take the first steps towards raising the federal funds rates before end-2015.

FOR much of this year, the conventional wisdom on Wall Street has been that after seven years of loose monetary policy under which short-term interest rates were pushed to near zero, the US Federal Reserve would take the first steps towards raising the federal funds rates before end-2015.