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An article about the Federal Reserves's monetary policy dated March 30, 2017, contains the following: I don't think we're removing the punch bowl yet. We're
An article about the Federal Reserves's monetary policy dated March 30, 2017, contains the following: "I don't think we're removing the punch bowl yet. We're just adding a bit more fruit juice," Dudley said in a speech at the University of South Florida Sarasota-Manatee. The New York Fed president noted even after the Fed increased interest rates this month, the federal funds rate is in a "still unusually low" range of 0.75%-1%,...." In your words, what did the New York Fed president mean by this statement? You answer should include some concise explanation of what is meant by the "punch bowl," a phrase and allegory coined by legendary Fed chair William McChesney Martin
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