Tuesday, September 20, 2016

David Stockman*:
The Federal Reserve Will Not Raise Rates
"The Fed is apparently going to punt again owing to the fact that Flyover America is being punished with insufficient inflation; that there is slack in the labor market that it cannot measure and can’t impact anyway; and because interest rates at the zero bound are still below an invisible and non-existent natural rate of interest. Yet here’s the very visible thing Brainard and her fellow money printers do not see at all. That is, stupendous bubbles and insensible speculation in every nook and cranny of the corporate finance market, among others."
LINK HERE to the essay

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