Yellen Has No Choice But to Raise Rates

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With the economy sinking in part due to Obama Care, is the Fed going to raise rates soon? Karl Denninger, who is a financial expert and trader, says, “Janet Yellen doesn’t have any choice but to raise rates. We have an emergency policy rate right now that is destroying the pension funds and the insurance companies in this country. This is where the pressure is coming from. It has nothing to do with the economy. It has everything to do with fixed income bond ladders. That is a mathematical problem that Yellen has to confront. She certainly is going to take a lot of heat, but rates are going to go up.”

We’ve played serial bubble blowing to the point where we are out of powder here. We are scraping the bottom of the barrel to get one more shot out of the cannon. I don’t see where Yellen gets away with this for any great length of time. . . . What I see is a global economy that has been running on fumes for the last couple of years, and cheap money has been powering it.”

See the video here.