Earlier this week, Fed Chairman Janet Yellen, announced that the Fed was not going to raise their target funds rate this week. Whoop-te-do!
Nothing could be more irrelevant than the Fed and its chairman. Who cares whether the Fed raises its target funds rate or not? Whatever they do has no impact on other interest rates or anything else for that matter. So.....so what?
The Federal Reserve is a totally absurd agency and its policies are a joke. They certainly have little or no impact on the American economy.
The Fed could do damage with its balance sheet, but it offers little hope of doing anything useful for the American economy, which has been slowed to a whimper by over-zealous regulators and and an over-bearing White House.