I find this an interesting articles as it provides some insight into Monetary Policy and how the Fed can control it to make the current economic situation better. I personally think it would be wise to raise interest rates for a number of reasons. For banks, low interest rate means lower profit. And as we saw in the fisher equation, they won't want to be stuck in a deal when they expect interest rates to rise. So banks are raising their credit standards to keep from throwing good money after bad. Besides that, we have seen from past results that having no interest rates wasn't a very successful or popular decision. Also, people are not spending as they want to rebuild lost savings and reduce debt. A higher interest rate would help them achieve that.
Overall, this is a good article providing an insight to Monetary Policy and it's effects...
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