Fed a Creature of Financial Markets; The Draghi PUT; Global Crisis Coming Up
MishTalk
DECEMBER 25, 2015
It has now taken the first step toward returning its benchmark policy interest rate – the federal funds rate – to a level that imparts neither stimulus nor restraint to the US economy. The crisis and recession of 2008-2009 was far worse than its predecessors, and the aftershocks were far more wrenching.
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