All of the sudden we should begin to see some honest reporting, now that they will no longer need to shield the public from the folly which has been the Obama presidency and the Obama economy.
Isn’t it funny that Janet Yellen and the Federal Open Market Committee (FOMC) have decided now to begin raising interest rates. In the eight years of the booming Obama economic recovery, this is only the second interest hike. The first was a year ago, almost to the day, and that was the first since 2006. And one could easily argue that this last hike of 0.25% is barely on Obama’s watch, as it will have no effect on his presidency.
But they had no where else to go but up. Not that I’m a fan of rate hikes, but prior to last years pitiful 0.25% hike, the Fed’s interest rate had been at 0.0% for the previous seven years, when the FOMC knocked it down to zero in December 2008.
The Fiscal Times described the hike as fully expected, but added, “What wasn’t expected: the Fed’s increase in 2017 rate hike expectations to three quarter-point hikes vs. the two quarter-point hikes that were projected in September,” in an article entitled, “How the Fed’s Hawkishness Puts the Trump Rally at Risk.”
Wow – that’s weird. It’s almost as if the Fed was holding off on hikes until the Obama exit. Huh.