Uncertainty at the Fed (J. Bradford DeLong, Project-Syndicate)

The US Federal Reserve is increasingly at risk of losing credibility – and for good reason. As Narayana Kocherlakota, former President of the Federal Reserve Bank of Minneapolis, recently argued, Fed officials seem be balancing their stated aim of keeping inflation near 2% over the long term with a host of other, inexplicit, considerations

https://www.project-syndicate.org/commentary/federal-reserve-bad-forecasts-uncertainty-by-j--bradford-delong-2016-05