Fed Policymakers Talk, Talk, Talk; No Rate Action Seen Soon

What with the U.S. killing of a Iranian general; retaliation by the Iranian government; and a potentially downed airliner near Teheran, the Federal Reserve Board stood little or no chance of grabbing headlines last week.

It was Talking Heads week. No, not the band, but a band of Fed policymaking officials who made the following abundantly clear—again. All of which is good news, as my colleague Tom Lee points out. (See page 3.)

The Fed is and continues to stand pat. For the last few mont...

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