InternationalMarkets & Economy

If not for the rest of the world, Fed would have begun liftoff months ago

We are not growing fast, but jobs are plentiful

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Takeaways: The financial world is paralyzed, waiting for the Fed next Thursday. My vote for next Thursday: Lift 0.25 percent and see what happens. China is hitting the great wall of social capital. The financial world is paralyzed, waiting for the Fed next Thursday. At the outset, hang on tight to one thing: The U.S. economy is doing so well that, if it were not for the rest of the world, the Fed would have begun liftoff months or even years ago. We are not growing fast; our new GDP (gross domestic product) speed limit is only about 2 percent, but jobs are plentiful, housing is entering a growth phase beyond recovery and only wages are sticky. Wages and therefore inflation may stay stuck, but with unemployment crossing below 5 percent, a zero percent Fed is inappropriate. My vote for next Thursday: Lift 0.25 percent and see what happens. This fitful go/no-go and Groundhog Day debate is distracting from important things, like football. The Fed may hold of...