The Fed seems to be giving up on a key driver of the economy

Thomson Reuters Federal Reserve officials are pinning their interest rate hikes on recent job market strength, with the unemployment rate at a 17-year low of 4.1%. However, signs of weakness in the economy remain, including an inflation rate that continues to undershoot the Fed's target. Wage growth has remained meager, so the Fed's ongoing monetary tightening signals a lack of desire to see a further pick up. For Federal Reserve officials, the whole point of keeping interest rates low for a pro...