By cutting interest rates too far...the Fed is using the monetary equivalent of a corked bat, ... The end result will be more damage from lower rates, more volatility in future interest rates and more confusion about what monetary policy can and cannot do.
More Quotes from Brian Wesbury:
Investment strategies based on the supposed link between deficits and interest rates have never been profitable.Brian Wesbury
The Fed is going to have a very difficult decision, and I think a lot will depend on what some other numbers on the economy will do and what the stock market does.
Brian Wesbury
Those who fear deflation thought they were watching a horror flick this morning when the PPI was reported as falling 1.9 percent in April,
Brian Wesbury
Now when people start to put together the pieces, it sure looks like the damage done to the financial markets from deflation around the world and a Fed that's too tight is beginning to rear its ugly head.
Brian Wesbury
Any reduction is going to take away from my forecast of any boosted growth,
Brian Wesbury
When we look at these numbers today, I don't think it's going to cause the Fed to move at all. Inflation is still low...the job market is growing moderately.
Brian Wesbury
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