Central banks should consider a name change.
Target fund would be an appropriate choice as more and more set specific goals to explain their policies making them quasi-target funds.
The latest example is the Bank of England under its new chief Mark Carney. Carney, the former head of Canada's central bank, unveiled the change in policy yesterday. The move from first glance is designed to allay investor fears about rising interest rates, something much in news since Bernanke raised the Spector a while back with his comment about putting theFed's QE policy to bed.
The move is not, however, without possible peril. It's like treating a lab number in medicine without considering the total patient. It can lead to mixing the big picture.
http://online.wsj.com/article/SB10001424127887323477604578653434040606850.html
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BABBLING TIMES
From time to time one comes across an article worth recommending. We have written before about debasing the language. The definition surely has different meaning to different folks. Babble is to debase in our view about as close as gray is to white and black.
So enjoy this read if you indulge an interest.
http://epsilontheory.com/wp-content/uploads/2013/07/7_14_13-The-Market-of-Babel.pdf
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