Fed is now targeting asset bubbles not the real economy. When asset bubbles increase so do interest rates, when they pop down they come.
The real economy is now second fiddle to the financial economy...not just in the US, but with the BIS (central bank of central banks) blessing.
This now gives banks the 'hope' of normalizing rates...but if the bubble implodes can they go to negative rates fast enough. Stick around, the great new adventure begins.
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