Business Report: Money and Fed reserve
HONOLULU, Hawaii (HawaiiNewsNow) - The Fed tomorrow will announce a decision on interest rates.
The Fed created loads of debt making interest rates low over the last decade. It prevented the recession from becoming a depression. It stretched out the following growth cycle.
The economy is still growing, years after economists expected a new downturn. It intended to gently raise rates and retire that debt.
But our continuing growth remains fragile - low wage growth, low inflation.
The Fed might even CUT rates again at some point. If it doesn’t tomorrow, it may be proving its independence.
The Fed watches economic fundamentals, not tweets, and not the Dow.
Wall Street always likes easy credit, whether it's good for the country or not.
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