Jul 31/15 – A 1937 style mistake

I continue to be perplexed at why the Federal Reserve committee members have such a hard on for raising the Fed Funds rate. I know, I know, “zero was an emergency rate, and the time for the emergency is long past.” Yeah, I get it – the Fed wants off the zero rate because it is not an “appropriate rate for this stage in the recovery.” And as I argued pre…