Letter: Taking the punchbowl away
December 24, 2015
Well, well, well — the Federal Reserve Board finally did it. As a "Fed watcher" since 1960, I see no damn reason except to enrich bankers when they raise interest rates. These are the same people who caused the meltdown starting in 2007 by raising interest rates 525 percent from 2001 to 2006. They are at the trough again.
The Fed is famous, as the economy improves, for taking the punchbowl away just as the party is beginning.
Sen. Rand Paul has a bill approved to ask the Fed for accountability for their actions.
The scary part of the Fed's scenario is we are promised more raises because there may be inflation. Bye-bye, punchbowls.
Richard C. Goodwin