Despite interest rate angst in the air, until proven otherwise, I am sticking with the hypothesis that the US is following the trail blazed by Japan in the 1990s. Following Japan's housing bubble bust, they made one attempt to move rates off zero, but appear to have given up. Following the US housing bubbble bust, the Fed made one attempt to move rates off zero, but appear to have given up. Maybe the giant stimmies will change things for the US, but I am not counting on it. Woo-Hah! (or should it be Wu-Han!)
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