“I want, I want and I want” (to raise rates)

This is ludicrous:

It’s important to recognize that Fed policy makers really want to hike interest rates, and give the same victory speech over the economy that President Barack Obama delivered Tuesday night. Even doves like New York Fed President William Dudley have signaled that they really want to increase rates this year.

But the number of excuses the Fed will have to postpone any hike keep piling up, and some of them may even be valid.

And they get paid handsomely to act like “spoiled brats”!

4 thoughts on ““I want, I want and I want” (to raise rates)

  1. If they can’t play God (to continue you with your next metaphor) and move rates up and down then what’s the point of their existence? All those “unconventional” monetary policies are no subsitute for the real thing.

    There is no goal except to normalise monetary policy.

  2. The Fed culture was revulsed at QE, and needs to wash itself with higher rates. The inflation target?
    Who cares?

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