interest

Bernie Sanders and Alexandra Ocasio-Cortez have proposed capping credit card interest rates at 15%

Now that 2017 is in the books, Americans across the country are working to keep their New Year’s resolutions so that 2018 might be better than years past.

Financial markets in the United States and around the world are all waiting with “bated breath” for when the Federal Reserve modifies its “easy money” policy and starts to raise interest rates. No one, however, asks a simple question: Why is the American central bank in the interest rate setting business?

Seventy-eight years ago, on February 4, 1936, the British economist John Maynard Keynes (1883–1946) published what soon became his most famous work, “The General Theory of Employment, Interest, and Money.”…