Peter Spence, The Telegraph: Why the coming US interest rate hike is like none ever witnessed before
Central bank watchers believe the Federal Reserve is finally ready to pull the trigger on an interest rate hike.
It is hard to overstate the significance of the decision that Janet Yellen, the US Federal Reserve chairman, and the rest of the Federal Open Market Committee (FOMC) will take later this week.
America’s central bank is expected to start raising interest rates, in the first such move since the summer of 2006. The anticipated economic shift has been described as “momentous” and a hugely significant milestone of progress in the repairing of the US economy since the damage done by the Great Recession.
WNU Editor: Quoting the Telegraph .... "Wednesday's interest rates decision has been described as the most anticipated in living memory" . Here is a different take .... Hilsenrath Just Reset Market Expectations: "Fed Is Worried Rates Will End Up Right Back At Zero" (Zero Hedge). What's my take .... an interest rate hike and the unforeseen consequences from such a hike will probably damage the legacy of President Obama .... and that is something that many do not want to happen. My predication .... everything that President Obama is doing right now is to maintain the status quo and to leave all the big problems (and consequences) to his predecessor. I suspect that there is a lot of pressure on the US Fed to maintain interest rates where they are right now .... and/or if there is raise, to be a small as possible.