Let us return to the real issue at hand, the questions that went begging about monetary policy. More confident central bankers in control of their brief might have said something about it, if only in passing. But with Ms Yellen we have a problem. If, as she claims, the Fed has cured America of financial crises, why hasn’t the Fed normalised interest rates already? Even on the US Government’s heavily-sedated consumer price index, inflation is at the Fed’s target, as are its highly-questionable…
