In a CNBC interview today with San Fransicko's Fed Williams, we heard several things that have been repeated ad nauseam by the establishment elite. Get used to very weak GDP growth — thanks to lack of investment and productivity. Trump's fiscal stimulus, although inspirational, won't move the needle all that much. We're at full employment, despite the fact that 94% of jobs created under Obama were part time. Due to the specter of inflation, rates need to go higher…much higher. During Obama's entire term as Divider in Chief, the Federal Reserve doddered him with comfy rates and QE programs. Now that he's all but a bad memory, the policy has shifted, dramatically, in spite of the fact that, economically, nothing has changed. If anything, Trump's policies towards trade with China pose as a significant headwind and may disrupt the globalist apple cart to a very serious degree of magnitude. However, the newly courageous Yellen Fed is taking to their fanatical position of raising borrowing costs for America's $20 trillion debt load, with energetic inspiration.
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