Should-Read: The surprising thing about B.G.’s long and convoluted Fed-hiking-interest-rates-to-punish-market-like-taking-away-LEGOS-to-punish-misbehaving-toddler metaphor is this: the markets have not misbehaved. It is as if the parent (Federal Reserve) said: “you, toddler, are going to misbehave” (inflationary pressures will emerge), so I will take your LEGOS away (raise interest rates).” Yet the toddler does not misbehave (inflationary pressures … Continue reading Should-Read: B.G.: Because I said so: Why the Fed is likely to raise rates, despite low inflation