As the debate about whether the Federal Reserve will begin raising interest rates next week reaches fever pitch, each side is being forced to adopt so-called corner solutions, arguing for their respective position with mounting conviction. This is understandable given the demand for a definitive answer. But it also is unfortunate, because both camps fail to take account of some broader considerations that cloud any certainty. At the simplest level of analysis, there is a 60/40 case in favor of a decision to begin the interest rate normalization process at the Fed's Sept. 16-17 Open Market Committee meeting. The 60 ... (full story)