And if he had raised rates people would be bitching because the debt would mushroom even faster than it has not to mention the housing problem would be much worse.
The fed is in a loose loose situation.
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"One should never direct people to happiness, because happiness too is the idol of the market-place. One should direct them towards mutual affection. A beast gnawing on its prey can be happy too, but only human beings can feel affection for each other, and this is the highest achievement they can aspire to."
-Alexander Solzhenitsyn
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