The bizarre politics of the Fed

America's Federal Reserve is not getting wise to damage. Its monetary policy is based on simplifications and ignores the consequences for the world.

This commentary is from the column “Mayers Weltwirtschaft” (Mayer’s World Economy) which was published in the FAS (Frankfurter Allgemeine Sonntagszeitung) and is available online at www.faz.net (in German only).