TheStreet.com Business Press Maven Marek Fuchs noted that the coverage of the Federal Reserve Board’s decision Tuesday to hold interest rates was finally covered accurately and clearly, the first time such an announcement has been covered so during new Chairman Ben Bernanke’s tenure.
Fuchs wrote, “I wish it hadn’t taken this long for the business media to get an accurate bead on the current Fed, but like most members of the investing public, journalists were emotionally attached to both lower rates and Alan Greenspan. They couldn’t envision the first changing and couldn’t understand the second’s style of speaking. Now that there is better understanding all around, the market is better served and investors can go on to a larger worry:
“Does the Fed know what the Fed is doing? To paraphrase Led Zeppelin’s live version of Stairway to Heaven, ‘Does anyone remember stagflation?'”
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