Hall of Record

From CNNMoney:

Fed feared risk of overtightening

2:24pm: Fed officials say they wanted to gather more data on inflation before deciding on future rate rises, according to the minutes of their August meeting. (more)

• Read the Fed minutes

Fed's Fisher: Nip inflation in the bud

2:33pm: Central bank can't let inflation build up steam, Dallas Fed President says. (more)

Consumer confidence sinks to 9-month low

1:03pm: August reading lowest since November on worries about economy, jobs. (more)

The Federal Reserve always acts on old information... and is the only cause of U.S. recessions.

Milton Friedman, no doubt is correct. The Fed is probably not necessary to keep the money supply under control... and unsaid... not cause recessions. See yesterday's post.