Chart of the day, FOMC laughter edition

I was hoping someone would do this — and now The Daily Stag Hunt has come to the rescue. All I can say is, thank you. It turns out that if you’re on the FOMC, then being in a credit bubble is really funny!
(h/t Elfenbein)
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Thanks for mentioning our analysis Felix!
I would be interested to see if the meetings in 07 and 08 were more somber.