It has been getting a bit warm around here. I thought it was just that the air conditioner was getting a little long in the tooth.
(From The Street)
Small investors and savers are “not so much in a pickle barrel as they are on a revolving spit, being slowly cooked alive” by central bankers’s reluctance to raise rates. Indeed, the Federal Reserve — once widely expected to raise interest rates in September — delayed action last week amid concerns that China’s slowing economy would hurt U.S. trading partners, eventually crimping growth in the U.S.
To get off the spit, Gross says the Fed should start raising rates now. “Near-term pain?” he asks. “Yes. Long-term gain? Almost certainly.”