From Mike Burnick: On Wednesday, the Federal Reserve raised the benchmark Fed Funds rate … for only the third time in nearly a decade.
Since their first move in December 2015, short-term rates have gone from effectively zero up to a target range of 0.75%-1% today. Wow! Can you say “glacial pace”?
The fact is, the Fed continues to drag its feet in normalizing monetary policy because they fear deflationary forces could return with a vengeance at any time.