#institutional-reform

#institutional-reform

"I've heard it said that hope is the consequence of action more than its cause," he told David Leonhardt while appearing on the New York Times Podcast, The Opinions, "and that's something I try to think about a lot in this moment. Instead of waiting around for hope, we actually have an obligation - a responsibility - to build hope, and that hope is the result of what we do in this moment."

The communications out of the Federal Reserve on Wednesday show the present and potential future of American monetary policy in vivid contrast. The big picture: Current leaders of the central bank view the U.S. economy as in basically sound shape, experiencing some labor market softness that is nothing a few modest interest rate cuts can't solve. They emphasize sober consensus-building and moving gradually and predictably.