Blog: Is the Fed "Waiting for Godot?"

With the world's central banks Jackson Hole taking center stage, economically speaking, there were a number of references to "Waiting for Godot." Godot is an absurdist play written by Irish playwright, Samuel Beckett in late 1948. One character summarizes the play by saying, "Nothing happens, nobody comes, nobody goes. Its awful!" Two people dressed like vaudeville tramps wait for someone named Godot who never arrives. The play and phrase have become synonymous with waiting for an event that will never happen. So in the context of the Fed, Godot is being used to say the Fed is waiting for inflation to return to it's 2% target, though that time may never come.