Fed Decision

The Fed rate decision is expected at 2:15 today. Fed officials are in a 2-day meeting to discuss their outlook and plans.

I managed to sneak into the meeting yesterday and overheard the following:

Fed Guy 1: What are we going to do?

Fed Guy 2: (quietly) Nothing.

Fed Guy 1: What are we going to say?

Fed Guy 2 (a little louder) Nothing.

Fed Guy 1: Nothing? Why?

Fed Guy 2: It's working, stupid.

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