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SMLL - Weekly Commentary: It's About Jobs Jobs Jobs
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The Wall Street Journal referred to a "a milestone" - "a major shift in how [the Fed] sets interest rates by dropping its longstanding practice of preemptively lifting them to head off higher inflation." The New York Times went with "a major shift in how the central bank guides the economy, signaling it will make job growth preeminent and will not raise interest rates to guard against coming inflation just because the unemployment rate is low."
The Financial Times underscored a note from Evercore ISI economists: "They view the shift as 'momentous and risk-friendly', saying