[ianai]

Maybe this will remind people what the Fed of former years was like. I suspect Powells tenure will eventually be looked upon with scorn. I deeply suspected the market was overvalued in 2018.

They should have been raising interest rates well before the pandemic. Then they wouldn’t have had to do quite as many unprecedented things, most likely.

You do not want a Fed simply trying to time the market cycle around election cycles. And one has to wonder what they were up to in 15-16. And 17, 18, 19, etc.

Edit-but not to say Bernankes time was great. Just that sometimes a historical contrast to the present makes things really stick out. I can never forgive bailing out banks, inventing the concept “too big to fail”, and pushing people out of their homes and into the streets. I was directly affected by that and just might never own a house as part of the long term fallout.

[throw0101c]

> They should have been raising interest rates well before the pandemic.

They did?

* https://fred.stlouisfed.org/series/FEDFUNDS

Do people not remember that there were already predictions of an upcoming recession by H2 2019?

* https://www.motherjones.com/kevin-drum/2019/08/the-great-yie...

* https://www.forbes.com/sites/chuckjones/2020/12/31/2019s-yie...

An October 2019 interview with Campbell Harvey, who originally noticed the rate inversion phenomena in a paper he published:

* https://www.youtube.com/watch?v=9sb1byR8Zx0

[senthil_rajasek]

>They should have been raising interest rates well before the pandemic.

The Fed in fact tried to tighten during the 2015 - 2018 period but in 2018, politics interferred.

https://en.m.wikipedia.org/wiki/History_of_Federal_Open_Mark...

[ianai]

18 is when then president Trump appointed Powell after not re-appointing Yellen. I don’t see that pointed out in your link.

[Hendrikto]

> They should have been raising interest rates well before the pandemic.

Should have, but could not. They did not let the recession of 2008/2009 play out, and the whole system has since only been propped up by the fed. They knew that a recession would commence the second they took their foot off the gas.