Thursday December 5, 2019

Stephen Kinsella: Janet Yellen gets the timing right

When will we follow the Fed to normality?

20th December, 2015
US moves first Fed chair Janet Yellen announces the first US interest rate rise since 2006

Last Wednesday, the US Central Bank, the Federal Reserve, increased the interest rate it charges banks from zero to 0.25 per cent. The media promptly lost their mind, perhaps because it hasn’t happened since 2006, but the markets barely reacted, especially in the long-term bond markets.

Exchange rates bounced a bit, with the US dollar gaining against the euro and the yen in particular, but with remarkably little volatility elsewhere. This is precisely what the...

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