As the year drew toward its close, policymakers were increasingly confident that their magic elixir of various “accommodative” policies had cured enough ailments to begin seriously thinking about withdrawing them. High on their minds was the idea that such “easing” comes with side effects and costs; the potentially high costs of easing? After so many years and so much of it, officials were getting impatient.
For one big reason, the banks were constantly chirping. No one had complained more than financial institutions, which only raises serious questions about just who has been easily accommodated and by what. Thoughts on these symptoms are, apparently, only for private discussion among authorities.
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