https://www.moneymetals.com/news/2015/09/21/global-recession-000767
A quietly panicking Janet Yellen and the Federal Open Market
Committee (FOMC) decided the U.S. economy still isn’t ready for an
interest rate hike last week and left the Fed funds rate at essentially
zero – the same level to which the Fed’s credibility has now sunk.
After incessantly hyping the notion an economic recovery would allow
the “normalization” of interest rates, the decision not to act suggests
the economy is much weaker than they have attempted to persuade us.
And it may be getting worse.
Injecting monetary stimulus is easy – any old fool can do it.
Removing the extraordinarily easy money after cultivating an addiction
in bond and equity markets over most of the past decade, turns out to be
hard. Maybe downright impossible.
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