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Since 2004 the Fed has raised short-term interest rates in numerous baby steps, but--and this is key--it has failed to mop up the excess money it created.
FORBES: Magazine Article
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Since 2004 the Fed has raised short-term interest rates in numerous baby steps, but--and this is key-- it has failed to mop up the excess money it created.
FORBES: Unindicted Blunderer
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If the Fed truly wants to tighten, there's an easy, time-tested way to do it: sell bonds from its portfolio to mop up the excess money it's mistakenly spilled onto the financial markets for the past 18 months.
FORBES: Fact and Comment