Does The Fed Have An Exit Strategy?

Last night I made another quick appearance on the Kudlow Report. This time I was joined by Megan McArdle, Andrew Bary of Barron’s, and Steve Liesman of CNBC.

Here’s a brief look at the action:

  • Bary thinks the economy has recovered to the point where the Fed needs to raise interest rates up to 2%;
  • McArdle thinks we need to be cautious about assuming the economy has actually recovered since much of the third-quarter growth was the result of government intervention;
  • Liesman thinks unemployment is too high for a Fed rate hike; and
  • I think Ben Bernanke has no exit strategy and doesn’t know when to start executing one anyway.

 

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