Amazing to see

Those who follow the markets know that the Federal Reserve has been trying for over ten years to “normalize” interest rates. Rates dropped to zero, the lowest in history, in the wake of the Great Financial Crisis of 2008. Zero is a crazy rate and the Fed has been vowing to raise it into an historically normal range, which has always been between 3% and 7%. Every time the Fed tries to normalize, the economy appears to get “too soft” to withstand any rate hikes.

They were supposed to start this month to raise in increments. A quarter point of increase every two or three months would bring the rate to 2% by 2024.

Pending economic contraction and anticipatory market swooning now have the Fed thinking they

AGAIN

will not be able to normalize interest rates.

Result: savers are getting no return on their savings.