Technical Review

Election Surprise and Steady FOMC

I thought the election would be close and that it might take 2 or 3 days before the outcome would be known. The election wasn’t close which saved the country more angst no matter who won. In the wake of the Republican landslide, the Democratic Party must muster the courage for self reflection and learn from this rebuke. That’s what happened after President Reagan buried Walter Mondale in the 1984 election. Rather than blaming others, i.e. dumb voters, the Democrats launched the Democratic Leadership Council (DLC) in 1985. In 1990 Bill Clinton became the DLC’s Chairman and steered the...

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