If the Federal Reserve wanted to raise interest rates they would have already done it. Rates have been at zero for about 6 years. Why has the Federal Reserve not raised rates?
The reason Janet Yellen is not raising rates right now is because she does not want to. Because she is afraid of the effect it might have on the economy, on the markets. How is that effect going to be any different if she waits until April or June? It`s not.
In fact, if she is afraid to raise interest rates now, she should be even more afraid to do it in April or June because it will be a bigger bubble by then. The longer the Federal Reserve waits to raise rates the more painful it will be when she does.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Dec 19, 2014
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