THe fed has been holding back because it doesn't want to spook the markets. Tech has been Americas golden goose for the last decade and high interest rates are

THe fed has been holding back because it doesn't want to spook the markets. Tech has been Americas golden goose for the last decade and high interest rates are like kryptonite for tech. All those flashy startups burning hundreds of millions with only negative profits to show for it are a direct product of a low interest rate environment. The fed knows that raising rates will likely result in the goose losing most of its feathers, and the carry on effects from that.