Brian Romanchuk — The Fed And Übergradualism

The Fed has done a good job of painting itself into a corner. Financial market participants have worked themselves up into a hypersensitive mood with regards to central bank actions, even though there is little evidence that the economy itself is sensitive to small changes in monetary policy. About the only palatable way out is for the Fed to give in and follow a policy of übergradualism -- hiking rates by 25 basis points at every second meeting.

Bond Economics
The Fed And Übergradualism
Brian Romanchuk