This is also appropriate for today.
Richard Fisher, head of the Dallas Federal Reserve Bank, told Reuters last week that interest rates will be kept low until “we’re certain the recovery is well under way.”
The US suffered a financial crisis in 2007-08, and these guys are still talking about “the recovery”!
Hey, Dick (and I use that name literally as well as figuratively), the US economy isn’t going to ever recover if the Fed continues what it is doing.
The rich will continue to get richer, and everyone else will scrape by.
The US gross domestic product grew at an annual rate of 2.6 percent in the fourth quarter, and it’s never going to get much better than that.
We are cursed to live in a mediocre economy with a helpless and clueless Fed and an ineffective Congress and White House.