It was interesting (and kind of disappointing) that the Fed didn't provide any discussion of the implementation of lifting rates off of zero. http://macro-man.blogspot.com/2015/11/3-points-on-fed-minutes.html
Put macro-man's points together with this chart showing how slow the fed has been to reverse: and then read this editorial at the New York Sun, http://google.com/gwt/x?source=wax&...etter/89354/&ei=W8pNVqOGCMf_tQX087CABA&wsc=ol and it's clear that the Fed has outlived its usefulness under its present configuration. The Fed is serving the stock market, or propping up the first black democrat president, or whatever, but it's not working in the best interest of the nation's financial future. They decide on a course of action and then they make shit up to justify it. That is clear. Even former chairman of the Fed Paul Volker says that the present way of doing business at the fed, without a rules based approach, has been a failure. Congress needs to act. * *We've always heard that if pols get involved, they might do anything, even monetize the debt. LOL. Of course the present argument by those who oppose a greater role by congress is, unbelievably, that if congress were involved, the fed might not be able to monetize debt!!!!