Welcome to the world of the do-nothing Fed.
After three years of frantic activity by Ben Bernanke & Co., the Federal Reserve has entered a period in which its hands are likely to be tied by a limping economy and the toxic politics of inflation. That is, unless there is another crisis. If you feel the walls closing in a bit, you're not alone.
The Federal Open Market Committee's statement Wednesday admits the recovery is going "more slowly" than the central bank expected. But putting on a brave face, the central bank insists the economy will start rolling again in the second half of 2011.
Read Full Article »