“The Fed is exporting this lunatic policy worldwide.”
This doesn’t end well.
The Fed is the prime mover of crony capitalism. The 0% rates of the past 5 years have made Wall Street fat with fiat currency, while the real economy has languished.
There is so much funny money about that the very rickety underpinnings of the world economy (the current bubble) have been hidden. A paper money mache. Paper mache is not a sound construction material.