Peter Morici: Fed Faces Tough Task in Hiking Interest Rates
Newsmax Finance Insider Peter Morici, an economist and professor at the University of Maryland. (AP file photo)
The Fed is on track to raise interest rates. Chairwoman Janet Yellen has good reasons to push ahead, but she may not get very far in her quest to “normalize” rates, warns Newsmax Finance Insider Peter Morici, an economist and professor at the University of Maryland. "Significant increases in rates would strengthen the dollar further, and the resulting surge in imports and lost exports could easily slice one percentage point off U.S. growth and reduce jobs creation to perilously low levels." [Full Story]
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