Henry Blodget interviewed Rick Santelli of CNBC yesterday on Tech Ticker. Santelli doesn’t think the Fed is going to pull off any miracles, but he does think the U.S. will get its house in order. He warned, however, that it won’t be painless.
Rick Santelli says that when the economy actually improves, interest rates have the potential to rise dramatically. That’s because those rates are artificially low now, in an attempt to stimulate the economy.
Right now dollar weakness is a product of the Fed’s actions, according to Santelli, and it’s ignoring concerns over the euro.
He also says that individuals and businesses should look to lock in the low rates currently available in the market.
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