Fed is now 87 months into its grand experiment with the lunacy of zero interest rates. Stockman

If our monetary central planners still can’t see their way clear to more than 38 bps of normalization, then, apparently, they intend to keep the casino gamblers in free carry trade money until they finally blow themselves up——just like they have already done twice this century.


David Stockman, March 16, 2016

David Stockman at IntCom