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The Fed Minutes yesterday cited there was no reason for any kind of stimulus. The Fed also mentioned revising the timeline for policy change depending on the economic outlook. Sounds like the Board of Governors feels our economy is swiftly improving.
Are we really that "recovered" to handle higher rates?
If your post is correct, I agree with the Fed. It's time to put federal stimulus programs behind us. Granted, it was truly needed to avoid an utter and complete collapse of our economy, but both Presidents Bush and Obama did the right thing by propping up some of our financial institutions (even though it should have been handled better). The real drag on our economy at this point is lagging consumer confidence. The more people claim that there is a "crisis", the longer it will take to get back to some form of economic normalcy. (There are far too many politicians talking down our economic recovery, merely for partisan purposes.) I just hope that we never again see the over-building and speculative construction that helped take down the real estate market. Unfortunately, I'm afraid that politicians of both ilk will be tempted to provide some sort of unneeded stimulus to boost the housing market, when we have enough housing already...and certainly too much tax-gobbling urban sprawl across the country.
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