The Fed has no business doing anything with rates. Their job is to control the money supply, that is all.
Agreed
Ah those wonderful Jimmy Carter years
Everything was great except for the Arab Oil Embargo and 22% house loans
Well, except for our boys in Vietnam who were still there.
“The Fed has no business doing anything with rates.”
Feds don’t control interest rates. They control the liquidity of overnight interbank transfers which impacts available money.