Yesterday, Fed chief Janet Yellen said the Fed would take a - TopicsExpress

Yesterday, Fed chief Janet Yellen said the Fed would take a patient approach in deciding when to bump borrowing costs higher. Translated: The Fed doesn’t know what to do. Several members of the Open Market Committee are worried about pummeting oil prices, weak global growth, and a possible Russian economic collapse. Others think inflation is just around the corner. So the Fed will wait and see. My view: Fiscal policy is dead. Republicans are intent on reining in federal spending. But most Americans are still living in a near-recession economy, and the Fed is the last hope for revving up the economy and getting jobs back. There’s no inflation in sight, anywhere. So the Fed should continue to keep it target policy rate near zero. What do you think?

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