There is more uncertainty in financial markets, an improving labour market in Australia (despite a monthly blip in January) and the US, but no sign of much growth.
Whose money pile is growing was a key issue in 2015.
Money tree via www.shutterstock.com
Just as football coaches reconsidered when to opt for a two-point conversion after the NFL made a change, the Fed adjusts its decisions in line with an evolving economy.
Monetary policy since the financial crisis has flooded the market with cheap capital. A rate rise will reverse this and put developing economies at risk.
Janet Yellen’s political mortgage has fallen due, but the economics makes sense too.
Joshua Roberts/Reuters
October was a strong month for jobs gains, but the president and Congress need to stop waiting for the numbers to improve and begin to act more proactively.
Volatility is not going away any time soon, and if the US Fed decision plays the wrong way on the Australian dollar, our central bank could soon be back in the jawboning business.
Her hands may be folded, but Janet Yellen is far from inactive.
Reuters
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