As the Fed Fiddles, the Economy Burns

A Powell Failure The Fed tightened its administered Federal Funds Rate (the rate banks pay to borrow reserves) by 75 basis points (bps) (0.75 pct. points) to 1.50%-1.75%, a rate hike not seen since 1994.  The issue here is that, for the first time in its 109 year history, the Fed is tightening into the […]