What the Fed did last week has altered the way investors will need to look at the economy going...
What the Fed did last week has altered the way investors will need to look at the economy going forward, says Goldman's Jim O'Neill. The Fed has always had a measured approach to its dual mandate for both price stability and full employment, but its apparent now that's all changed. The focus now is far heavier on jobs than it is worrying about the inflation that critics worry QE will cause, O'Neill says. "QE infinity," as he calls it, is a sort of "shock-and-awe" move that's changed the balance of everything.
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