What a puppet show is this Fed pantomime. The head puppeteer has spoke...look out world!! The banal arrogance of this unelected "ruling class" mob is as absurd as it is breathtaking; for this collective to think that they control interest rates...or anything for that matter...is a supreme illusion. Central banks don't set interest rates; the MARKET sets interest rates; the CB's have no choice but to follow...look at the IR charts. They are masters of disruption to the natural cycles of life and business: But it is hard to say whether it has been a deliberate ploy since 1913 or just an unfortunate accident perpetrated by misguided incompetents (that's plural). The world can only hope that legislative decision makers continue to be disillusioned to the point of abandoning this disastrous experiment in social manipulation.
Fed's Yellen says 'makes sense' to gradually raise interest rates
With the U.S. economy close to full employment and inflation headed toward the Federal Reserve's 2 percent goal, it "makes sense" for the U.S. central bank to gradually lift interest rates, Fed Chair Janet Yellen said on Wednesday. "Waiting too long to begin moving toward the neutral rate could risk a nasty surprise down the road - either too much inflation, financial instability, or both," Yellen told the Commonwealth Club of California in San Francisco. "In that scenario, we could be forced to raise interest rates rapidly, which in turn could push the economy into a new recession." The Fed raised short-term rates ... (full story)