Has the Fed’s cautious, go-slow approach, “served us well” ?
Divided Federal Reserve Is Inclined to Stand Pat
Low inflation leaves central bankers with little sense of urgency to boost interest ratesBecause the economy is growing so slowly, this group doesn’t believe rates need to move very high in the months and years ahead, thus the Fed can take its time.
Jon Hilsenrath, The Wall Street Journal
Bankers' marginsDespite its hesitance, the Fed faces some external pressure to move. “Let’s just raise rates,” said J.P. Morgan Chase & Co. Chairman and Chief Executive Officer James Dimon at the Economic Club of Washington, D.C., on Monday. Bankers have been complaining more broadly that low rates hurt their profit margins because it holds down what they can charge customers for loans.
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