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For the Fed, 2021 Was a Year for ‘Recalibrating’
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wsj.comIt is a common refrain that the Federal Reserve’s numerous tone and policy shifts in 2021 was equivocation—leading to frustration among market participants and business leaders.
But there is another way of looking at how the Fed’s policy makers navigated the year’s turbulent and uncharted waters, as economic and financial-market developments gyrated and morphed daily. In fact, if I had to pick one word to describe the Fed’s strategy over the past year, it would be this: recalibration.
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