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Where are the rising interest rates?

Where are the rising interest rates?

Since 2013 many of us have been puzzled: Why has by the Federal Reserve failed to raise interest rates? We have heard the explanation — primarily that rate decisions are "data dependent." Yet often, the metrics employed to gauge progress have later been abandoned, just as the initially stated goals are approached. Originally the goal was to reduce unemployment to 6 percent, from 10 percent. The revised goal is now 5 to 5.2 percent, labeled by the Fed as "full employment." The Fed has focused too much on the rewards of zero rates and too little on the risks of an asset bubble and accelerating debt. Yet we see a looming reminder of the latter in current corporate...

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