Looking back, Chicago Fed President Evans says, the Fed should have moved more quickly to tighten rates from the last bottom in rates around the 1% level. He’ll find few arguments out there against that position, except perhaps from the Great Greenspan, who would argue that it didn’t really matter because long-term rates did not respond to the Fed hikes when they finally came anyway.
Bernanke is on the Hill this morning, as is Geithner, as the AIG ritual sacrifice continues. Perhaps they will touch upon the economy at some point.
