Key inflation and employment data that central bankers use to guide monetary policy lag far behind economic turning points, which results in hugely suboptimal rate decisions.
The anticipation for the Paris Olympics offers a promise of vibrancy and excitement, with the City of Lights set to deliver a magical spectacle, drawing global attention and enthusiasm.
The realm of interest rate policy decisions is far less exhilarating. Central banks, including the US Federal Reserve with its more than 400 PhD economists, operate at a markedly contemplative pace.