Some economists are suggesting that the best thing the Federal Reserve could do for the U.S. economy would be to raise interest rates for the first time in nearly a decade, mounting an argument that flies in the face of conventional economic wisdom.
Tightening, in light of the current circumstances, would actually be stimulative, on net, they argue.
"The reason [the Fed] should have raised rates in September and the reason, failing that, that it should do so this month isn't that the economy can handle the pain but rather that it could do with the help," David Kelly, chief global strategist at JPMorgan Asset Management, wrote in a recent research note.
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