The Fed wants to raise their key interest rate by 25 basis points next week, at their meeting on September 16-17.
The reason they would like to raise is not because of the real economy or any concerns about inflation or even 'full employment.'
The Fed has been stuck on the emergency zero bound for far too long, and stood idly by while economic inequality widened through the gaming of a corrupt system, and paper assets once again grew into a dangerous bubble.
They would like to raise rates to give themselves some room to maneuver policy when the next financial crisis comes.
They, and much of the status quo, is caught in a credibility trap that inhibits them from reforming the corrupt system that has been rewarding them, handsomely. The US is currently in the hands of a relatively small number of oligarchs.
There are indeed other countries that are 'worse.' That does not make what the US is now 'good.' Putting aside both good and bad for a moment, as a democratic republic it is not sustainable.
Sustainable recovery will only come when true reform of the political and financial system is accomplished.
Thinking people around the world are increasingly wise to the true nature of things. Their reactions vary. The rest of the people are angry, confused, and unfortunately often malleable to suggestions and PR campaigns from the major media.
That is the situation which we are in. I do not think I can state it any more clearly. Keep it in mind and it will help you to understand what happens next.
Is there anything you don't understand about this?
Have a pleasant evening.