[nickcarraway]

We need a rate hike. Because Yellen, and her compatriots, and her predecessor kept rates too low for too long. If a country depends on low interest rates for too long it comes back to bite that country. And then there is no monetary policy to bail you out.

[Tench_Coxe]

'We need a rate hike. Because Yellen, and her compatriots, and her predecessor kept rates too low for too long. If a country depends on low interest rates for too long it comes back to bite that country. And then there is no monetary policy to bail you out.'

Yes, cheap credit extended over a long period will hurt in a correction. That correction is overdue, IMHO.

Painful? Oh yes. But necessary.