The fed has shunned its responsibility to set interest rates properly for many years now, starting with Greenspan with Clinton and Bush support. Now those rates will be set externally. It is good for the country and good for the world economy. Standing on the accelerator for years on end never made any sense. The failure of the fed to raise rates during the insane housing price runup in 2004 is back to haunt us. Moody's is going to provide the necessary correction to those rates.