 "Federal Reserve Chairman Jerome Powell | File photo")
Donald Trump's reported musings about whether he could fire the Federal Reserve chairman eclipsed an important signal from the central bank last week.
Those who perused December's interest-rate documents were focused on why the "dot plots" projected two hikes next year and why the Fed didn't abandon forward guidance. A stock-market swoon and hesitant press conference from Chairman Jerome Powell added to the sense that policymakers had fumbled.
The almost forgotten reappearance of one phrase gives hope to those seeking a more cautious Fed in 2019. When Trump finds another target for his Twitter missiles, those extra words may gain more prominence.
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