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Should The Fed Raise Rates?

Summary:
For seven years now, the rate The Fed sets to deter­mine the price banks pay to bor­row from it and from each other has been zero, or so close to zero that the dif­fer­ence is imma­te­r­ial. This is, his­tor­i­cally speak­ing, not nor­mal, and The Fed has a des­per­ate desire to return to what is nor­mal, which is rate a few per cent above the rate of infla­tion (see Fig­ure 1). Click here to read the rest of this post.

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For seven years now, the rate The Fed sets to deter­mine the price banks pay to bor­row from it and from each other has been zero, or so close to zero that the dif­fer­ence is imma­te­r­ial. This is, his­tor­i­cally speak­ing, not nor­mal, and The Fed has a des­per­ate desire to return to what is nor­mal, which is rate a few per cent above the rate of infla­tion (see Fig­ure 1).

Should The Fed Raise Rates?

Click here to read the rest of this post.

Steve Keen
Steve Keen (born 28 March 1953) is an Australian-born, British-based economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific and empirically unsupported. The major influences on Keen's thinking about economics include John Maynard Keynes, Karl Marx, Hyman Minsky, Piero Sraffa, Augusto Graziani, Joseph Alois Schumpeter, Thorstein Veblen, and François Quesnay.

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