Stocks: ‘It’s Really Not 1998. It’s Worse.’
August 28, 2015 at 16:12 PM EDT
MKM’s Michael Darda argues that “it’s really not 1998. It’s worse.” He explains why: Getty Images The Fed cut rates three times in 1998; today (short rates) are near zero and the Fed’s Phillips Curve models present a very significant obstacle for additional QE. The Fed’s three rounds of QE all came against the backdrop […]
