If the specter of gradually raising interest rates from near zero is enough to cause a market panic...

perhaps the Fed should take that as a sign that the financialization of the American economy has gone too far.

One particular scene from “Yes, Prime Minister,” on a four-stage strategy to crisis management, does seem to capture the messaging on inflation

The “neutral” fed funds rate that’s neither accommodative nor restrictive is 2.5%. That’s a long way from zero.

Brian Chappatta Bloomberg 17 november 2021 

Highly Recommended

https://www.bloomberg.com/opinion/articles/2021-11-17/the-fed-has-more-options-than-0-rates-or-recession

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