The Fed needs to cut interest rates, not raise them, if it wants to tame inflation back to 2%, CIO says
Ritholtz's view isn't crazy when you consider that prior to the pandemic, the Fed kept interest rates at near-zero levels for an entire decade and inflation was consistently subdued below 2%.
"The rates, half a point one way or another, are not going to cause more inflation. The problem with houses are there aren't enough of them... You want more homes on the market... give people lower mortgage rates and you'll basically get there," RitholtzCutting interest rates to lower inflation isn't Ritholtz's only contrarian view on what the Fed should do. He also thinks the central bank should also raise its long-term inflation target from 2% to about 2.
"After the Great Financial Crisis, the economy was sluggish and zero interest rate policy/quantitative easing had driven rates near zero, 2% was a reasonable upside [inflation] target. But after $5 or 6 trillion in fiscal stimulus,Sign up for notifications from Insider! Stay up to date with what you want to know.
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