Leading Market Analyst Tells CNBC Why the Fed’s Short-Term Rate Launch May Be Doomed to Return to the Launching Pad
Fort Lauderdale, Fla. – When the Federal Reserve finally raised short-term interest rates from zero to a quarter-percent on Wednesday (Dec. 16), one of the market analysts contacted by the media was Sound Income Strategies Founder David Scranton. Scranton has been on record since last year saying that if the Fed raised rates at all in 2015, it would only be by a fraction of a percent because that was their only option. Following Wednesday’s announcement by Fed Chairman Janet Yellen, Scranton appeared on CNBC’s Closing Bell to explain why he believes the Fed’s plan for gradually increasing rates further in the next two years is hampered by many of the same factors that played into his original forecast.
Press Release: Sound Income Strategies Founder Says Fed’s Decision on Interest Rates is No Surprise, and Further Evidence of a ‘New Economic Normal’
Fort Lauderdale, Fla. – Will she or won’t she? Federal Reserve Chairman Janet Yellen finally answered the most debated question in the financial world on Thursday (Sept. 17) when she and the Fed voted to keep short-term interest rates at record, near-zero levels. The decision came as no surprise to leading market analyst, CFA and Sound Income Strategies founder David Scranton, who has argued for months that the Fed couldn’t impose a rate hike without panicking Wall Street and further hampering the country’s already painfully sluggish economic recovery. In a statement Thursday, Scranton said the Fed’s decision lends further evidence to his belief that permanently low interest rates may be part of the U.S. economy’s “new normal.”