Prescient reporting on regulators fighting the last war. At least this time, its liquidity vs solvency problems.
George W Bush was the first to claim: "Mission Accomplished;" it seems clear (to this reader) the Fed will NOT go down that path (unless it wants to sacrifice its credibility). Without debating the merits or the likelihood of that outcome, what are the scenarios remaining if they chose "higher for longer?"
Prescient reporting on regulators fighting the last war. At least this time, its liquidity vs solvency problems.
George W Bush was the first to claim: "Mission Accomplished;" it seems clear (to this reader) the Fed will NOT go down that path (unless it wants to sacrifice its credibility). Without debating the merits or the likelihood of that outcome, what are the scenarios remaining if they chose "higher for longer?"
Glenn, thanks for your thoughts. It may be a difficult challenge for the Fed, given competing concerns.