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Goldman On The Fed: ‘The Inflation Fight Can Wait Six Weeks’
Over the weekend, during an interview with Fareed Zakaria, Lloyd Blankfein said that in his view, it
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Hiking 25 bps right now risk having the same effect as a 50-75 bps hike when consider the tightening delivered by the current “mini” financial crisis. The Fed should come out and call the pause a “delay” if they want to, but a rate hike Wednesday is an unnecessary gamble, wait 6 weeks, Goldman is correct.
H. This was an important post about the nature of credit. Thanks. Too many people around who don’t understand the real need for borrowing and want us to return to the dark ages when it was illegal or against the teachings of the church to lend money at interest.
Another Geezer Memory – when I worked in a vast trading room of a major NYC I once asked the head of the trading & funding operations “Doesn’t the bible say never a borrower or lender be?” His jaw dropped in horror.
Shakespeare, I think (Hamlet), but still sound advice.