You can’t let the irrational dictate the market.
Big picture cheap money is bad. Drives inflation and asset bubbles. Keeps fueling demand everywhere.
That needs to be tempered and in current situation withdrawing QE and starting the increase on rates is the best way to do it. And we’re only talking about rates going up to what would still be historic lows (sub 2%) - due to not wanting the housing market to completely crash. |