There is no way to describe current Federal Reserve policy other than as monetary confusion and misdirection. In a nutshell, Janet Yellen and the other members of the Fed’s Board of Governors have no idea what to do. Do they raise certain interest rates over which they have some direct influence? Do they keep them at their current rock bottom levels, as they have for the last six years?
The Heartland Institute recently hosted renowned economist and political commentator John Lott, who gave an enlightening talk about this new book “At the Brink: Will Obama Push Us Over the Edge?”