"The economy is improving much faster than the Fed is willing to acknowledge, LaVorgna said in an interview. At the current rate of hiring, more jobs will be created this year than in any year since 1999."
"In six months, the unemployment rate will be below 6% and the core inflation rate will be at 2%," he said. "We are way ahead of schedule. We're going to get to 5.2% or 5.4% a year ahead of schedule. The Fed is behind the proverbial curve. The Fed should be raising rates."
"I would have raised rates years ago," LaVorgna added, "just enough to get the federal funds rate off zero after the emergency passed." And besides, ZIRP may not be doing anything for the economy, anyway. "It's not about the cost of money; it's about the provision of credit."
Her: "But waiting?"Him: "Hmmm, we shouldn't wait anymore."Him: "So here we are."Her: "I mean, we need to invest again. We just need to find the right thing to do."