EXCLUSIVE: Chicago Fed president warns falling inflation and high interest rates could make things worse

Austan Goolsbee, Former chairman of the Council of Economic Advisers under President Barack Obama, testifies before the Congressional Joint Ecoomic Committee on Capitol Hill February 28, 2013 in Washington, DC. Goolsbee and fellow economics professor Michael Boskin disagreed on the speed of the nation's economic recovery during the hearing, titled "State of the U.S. Economy." (Photo by Chip Somodevilla/Getty Images) (Credit: Chip Somodevilla—Getty Images)

It would be convenient if every member of the Federal Open Market Committee was always in agreement about what to do with the base interest rate—for Wall Street at least.

There would be no need for analysts to pore over remarks made by FOMC members between meetings, looking for clues, or sit through the two nail-biting days during which the committee’s 12 economists debate the state of the economy. They could simply sit back and wait for the announcement.