Ruthlessly raising rates? Not so far

Egan, Jack
May 1994
U.S. News & World Report;5/23/94, Vol. 116 Issue 20, p54
Opinion. Argues that instead of simply nudging short-term interests rates higher, the Federal Reserve should hike the rates decisively. Massive losses for bond-market investors since the modest hikes; Howls in Washington that would be raised by substantial hike; Waiting game which is especially acute for foreign investors; Suggestion that a big hike would be the best prescription for the economy.


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