The problem with Fed policy today is that there's no framework, nothing's predictable,...

|By:, SA News Editor

The problem with Fed policy today is that there's no framework, nothing's predictable, everything seems to be based upon an "odd hope," says former St. Louis Fed President William Poole. Decisions seemed to be getting drawn out of the stratosphere. What the Fed needs to do, rather than grasping at straws, is emphasize to the politicians and the public that monetary policy simply cannot fix our problems. (video)