In the late 90’s the Fed held rates too low, too long, creating a bubble. When it popped it created a financial catastrophe and ultimately a recession.
From 2001 to 2006 the Fed held rates too low, too long, creating another bubble. When it popped an even bigger financial catastrophe and a deeper recession resulted.
Now the Fed has held rates at zero for 8 years and printed trillions of dollar of QE….
Do you think it’s going to be different this time?
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