Community members rightly wonder why dressing up this meager side street is a priority over urgent if less glamorous upgrades, such as widening the sidewalks on Lexington Avenue.
Unless Wall Street falls sharply or the dollar climbs (unlikely, given America's widening current-account deficit), the Fed, if it is to slow America's economy to prevent a pick-up in inflation, must push interest rates higher.
The move comes amid widening scrutiny of the commercial data-gathering industry, which has been chronicled in The Wall Street Journal's "What They Know" series.