Kudlow has long been critical of Crazy Al Greenspan....and I agree. The man can't go soon enough.
The current economy is as strong as it was in the late 1990s, but with real earnings...not puffed-up bubbles.
Take away the runaway inflated federal spending due to 9-11 and Bush's surplus would treble Clinton's.
I may be dense.... however, how does rising oil prices due to disasters as well as short-suppy (due to China/India/Lack of Refinery Capacity) equate into a reason to put further brakes on the economy by raising interest rates?
If we had upward pressure in inflation due to something we could control, that would be one thing, but when it is due to "circumstances" and people are struggling ... how is higher interest rates going to bring down the price of a barrel of oil (I guess is my question)????