The US Fed and consumers have very different expectations about the future.
Ordinary people understand messaging about goals, not the means of getting there.
People buy now if prices are set to rise, but only if the message gets through.
The US and European central banks thought they could manage their economies by bringing their secretive plans for interest-rate regulation into the light. But they didn’t account for an unreceptive public.
How announcing a sales-tax hike could boost consumer spending