It wasn't. The Fed kept them low, but the previous Administration
was absolutely trying to influence Fed policy, which isn't good. Monetary policy shouldn't be a political tool.
Rather, the previous Administration, working with Congress, ran budget deficits during an economic expansion that would have made Obama blush. Truly embarrassing for the GOP, honestly, and horrible for our country.
But money had been too cheap for too long - a lot of that is on the Fed. It created a number of distortions in markets, and expectations that shouldn't be realistic over the long haul.
[Post edited by Capital City Hoo at 12/11/2023 1:43PM]
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In response to this post by TomGlansAski)
Posted: 12/11/2023 at 1:35PM