A Wall Street Journal survey of economists has found that 81.4% believe the Fed will raise the Federal Funds rate at its December 13-14 monetary policy meeting.
The Austrian-lite view that last year's December rate hike would have to be quickly reversed because immediate economic collapse was sure to follow that hike is proving more and more absurd.
The further view that the Fed would have to immediately move to negative rates after last year's hike suggests a lack of understanding of the fundamentals of the business cycle and the current economic environment.
-RW
Safely after the election......
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