The Budget Deficit Does Not Matter. The National Debt Does Not Matter. Jobs and Economic Growth Are the Only Things That Matter
Conventional wisdom says that when there is a recession the FED should lower the cost of money and increase liquidity in the monetary markets. Since the start of the current recession and the financial markets collapse in 2008 and 9, that is what the FED has done. Rates were lowered continuously to the point that short-term rates are effectively 0 today. The markets are awash with liquidity. There has not been the recovery that you would expect.
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