I don’t recall that “keep stock market averages up” as being one of the Federal Reserve’s mandates?!? They have held rates far too low for too long. Well past time to normalize rates. But I am afraid that politicians will have too much pull with the Fed...normal rates on $22 trillion in debt will eat up a quarter of the Federal budget.
The yield curve looks sick. Interest rates should be measured relative to the market, not historical absolutes.
And the Fed hiking rates has greatly increased the interest we pay on Obama’s debt and is adding to the deficit.
Yep. They’ve been screwing “savers” for the past 20 years with their artificially low interest rates and fiat money.
The only way to deal with the current debt is to inflate it away.
Mark my words -- great inflation is coming.