At the above link is a very interesting article on precisely why I was wrong in yesterday’s post :)
If I read it correctly, it is essentially saying that interest rates will not be rising anytime soon because the system could not handle it. I certainly agree with that latter part, but, as I made clear (hopefully) yesterday, interest rates are not necessarily in the hands of the Fed – or any other central bank.
The full article requires a registration, but its free, fast to do and worth the trouble.
Keith Weiner is always worth reading. He never fails to give me a pause for thought.