Dennis Lockhart, president of the Atlanta Federal Reserve, thinks the current debate about whether the Fed should raise rates is like the O.J. Simpson trial.
But for monetary policy.
According to Alister Bull, an editor with Bloomberg News, Lockhart said questions around whether the Fed will or will not raise interest rates this year, “has become the O.J. Simpson trial of monetary policy.”
Lockhart spoke at an event in Orlando on Monday morning and appears to have made the comparison during a Q&A following his remarks.
According to Bloomberg, Lockhart’s remarks were similar to a speech he gave on Friday, during which he said that he expects the Fed will raise rates at its October or December meeting.
As for what Lockhart means by the O.J. comparison, we’re not entirely sure.
The New York Times’ Binyamin Appelbaum asked if this means he thinks the Fed will reach the wrong verdict, which seems about as good a guess as any.
Lockhart could also be referencing the length of the debate over whether the Fed should or should not raise interest rates, which has now been raging for basically the last year.
The O.J. Simpson murder trial went on for about eight months. Recall that Simpson was found not guilty in the murder of his ex-wife and another man despite seemingly overwhelming evidence that Simpson did, indeed, carry out the crimes.
Simpson later published a book called, “If I Did It.”