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Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace and labor market conditions will strengthen somewhat further. Inflation is expected to rise to 2 percent over the medium term as the transitory effects of past declines in energy and import prices dissipate and the labor market strengthens further. Near-term risks to the economic outlook appear roughly balanced. The Committee continues to closely monitor inflation indicators and global economic and financial developments. Against this backdrop, the Committee decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent. The Committee judges that the case for an increase in the federal funds rate has continued to strengthen but decided, for the time being, to wait for some further evidence of continued progress toward its objectives. The stance of monetary policy remains accommodative, thereby supporting further improvement in labor market conditions and a return to 2 percent inflation. https://www.federalreserve.gov/newsevents/press/monetary/20161102a.htm

I feel like this headline really obscures the most interesting part of the article...so we all remember Gene Fama, right? Crotchety Nobel-Prize-winning economists with an unwavering belief in market efficiency? So, somewhat hilariously, he has an investment fund that of course attempts/claims to do exactly what an efficient market would make impossible, namely to consistently beat the market. I am guessing he would argue that it's the existence of such funds that keeps markets efficient, but I digress...anyway, I fully appreciate that his fund appears to be much more active than others in terms of being proper shareholders and, in this case, trying to keep CEO pay in line. I suppose it sort of makes sense to have strong beliefs in market efficiency if you're also among those taking steps to do the things that keep markets efficient in the first place.

Robert Shiller on writing a paper that supported the efficient-markets hypothesis only to later discredit his own work

BOE Working Paper 523

I guess the pointy-haired boss doesn't believe in the efficient-markets hypothesis...

BOE working paper supporting the value of HFT firms. http://www.bloomberg.com/news/articles/2015-02-24/flash-boys-help-markets-not-just-themselves-boe-study-finds