This is the drawback of being right for the wrong reasons — it makes finding a solution to the problem at hand that much more difficult. The Fed’s choices are stark. It can keep raising rates, which would keep inflation within its target but anger Trump; or it can stop, which would please Trump but anger inflation hawks. Or it can come right out and say it’s reconsidering its target, which would please economists and create a new battleground for economic policy — but would demonstrate that it’s not just a collection of robots, but an institution that knows that when conditions change, policy changes must follow.

Source: Los Angeles Times December 26, 2018 19:41 UTC