| David Malpass, president of Encima Global Research firm, isn't too impressed with the Federal Reserve's decision to maintain a huge balance sheet for years and to refrain from an interest-rate hike until at least next year.
The Fed's balance sheet has bulged to $4.5 trillion through quantitative easing, and it has kept its federal funds rate target at a record low of zero to 0.25 percent since December 2008. "Far from being neutral or stimulative, these policies have caused huge distortions in financial markets, contributing to slow growth and falling median incomes," Malpass writes in The Wall Street Journal...............................................Full Article: Source
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