Oops, they did it again. Even though the housing market has been in a depressed state for an extended period of time and even though economic conditions are slowing down all over the country, the Federal Reserve has once again refused to lower interest rates. What in the world are they thinking? I certainly share President Trump’s frustration with the Fed. Central banks all over the world have been cutting rates, but our central bank just won’t budge. Have Fed officials gone completely insane, or are they purposely trying to destroy the U.S. economy?
Those that have been following my work for an extended period of time already know that I am not a fan of the Federal Reserve at all. And now we have another very clear example of the Fed’s lack of competence…
There were two Fed governors that did not agree with this decision. This was the first time since 1993 that more than one Fed governor has dissented…
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