I would assume the Fed thinks it's not actually an ideal time to raise rates. Real growth is in the dirt, they have a dual mandate, and the funds rate is an in

I would assume the Fed thinks it's not actually an ideal time to raise rates. Real growth is in the dirt, they have a dual mandate, and the funds rate is an indiscriminate weapon. Given the circumstances the ideal intervention would be fiscal policy aimed at reducing the supply of money in less CoL-sensitive areas but the people in charge of _that_ are uh, somewhat more susceptible to political pressure.