A top Federal Reserve official on Thursday said he believes U.S. interest rates are too high, and had no "good answer" when asked why the Fed is reducing its efforts to push borrowing costs down.
"Interest rates are not low enough," Minneapolis Federal Reserve
President Narayana Kocherlakota said at a Town Hall meeting in Montana,
citing subdued inflation and "unacceptably high" unemployment as
evidence.
Prepare for housing bust 3.0 folks.....It will be interesting to see who drinks all this free Koolaid going forward.
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