Last week Federal Reserve Chair Janet Yellen hinted that the Federal Reserve Board will increase interest rates at the board’s December meeting. The positive jobs report that was released following Yellen’s remarks caused many observers to say that the Federal Reserve’s first interest rate increase in almost a decade is practically inevitable.
However, there are several reasons to doubt that the Fed will increase rates anytime in the near future.
The American people ought to be asking why previous failed policies in several countries are being repeated in others. We can only hope that the Obama policies will become a serious debate topic during the current presidential race.