Fed Fakes Confidence With Another Dec. Quarter Point Rate Hike

* On Wednesday, the Federal Reserve did exactly what they did last year * They waited until the last possible meeting to nudge the Federal Funds rate by 1/4 of 1% * So now, after 2 years of tightening, the lower bound of the Fed's range has gone from zero to 1/2 of 1% * Now Janet Yellen said the Fed made this decision to lift rates because of its confidence in the U.S economy *  That is complete nonsense * If the Fed were confident in the U.S economy, rates would be much higher than a half of a percent * The Fed would have raised rates a long time ago and by much more than this * In fact, they could have lifted rates by more than 25 basis points on Wednesday * Yet, they had so little confidence in the economy that this is what they did * In fact, I believe that the only reason the Fed raised rates this December * Is the same reason they did so last December: they did it despite having no confidence in the economy * But they didn't want to send a message that they were that worried, so they raised interest rates by the smallest possible amount * And they also did it to try to preserve their credibility when it comes to talking about future interest rates * Think about one half of one percent * When Alan Greenspan slashed interest rates in the aftermath of the September 11 disaster and the bursting of the dot com bubble * When the stock market was plunging and the economy was in recession, he was so worried about the economy that he lowered rates down to 1% * Now Yellen is so confident in the economy, the highest she's willing to raise them is 1/2 of 1%? * This is half of where they were lowered in panic by Greenspan? * So the fact that rates are only 1/2%, what does that tell you about the true confidence that Janet Yellen and the rest of the Federal Reserve have in the U.S. Economy?Our Sponsors:* Check out Chilipad and use my code GOLD for a great deal: https://sleep.me* Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com* Check out Plaud AI and use my code GOLD for a great deal: https://plaud.ai* Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com* Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy