“The Fed will make a major mistake if it doesn’t raise rates,” says economist Mark Zandi of Moody’s Analytics. Now the Fed and other major central banks seem deeply frustrated. It includes purchases by the Federal Reserve, the European Central Bank, the Bank of Japan and the Bank of England. For all their trouble, the central banks have got no more than a weak recovery that avoided a second Great Depression. The old Fed is dead.

Source: Washington Post September 18, 2016 23:03 UTC