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How Disastrous If The Fed Could - And Did - Falsify The Yield Curve's Crucial Message
Mentioned in a recent column was that in July of this year, the big banks through which the Federal Reserve projects its well-overstated influence rejected 75 percent of small business loan applications. Please think about the previous number for a moment. Or maybe several minutes. Despite all of its high-profile rate fiddling conducted amid breathless media coverage, the Fed quite simply can’t alter reality. For small businesses in particular, credit is always and everywhere tight. Witless pundits talk endlessly about “easy money” and “easy credit” policies, but their musings merely expose how distant ... (full story)