A Fed Rate Hike Now Would Be a Disaster for the Economy

by Ron Insana

As Wall Street waits to hear Federal Reserve Chair Janet Yellen’s economic speech at this week’s Fed symposium in Jackson Hole, Wyoming, Fed officials have been bickering publicly about how they should conduct interest policy in the weeks and months ahead.

Vice-Chair Stanley Fischer hinted that a rate hike remains on the table for 2016, suggesting that employment and inflation targets have been largely met.

San Francisco Fed President John Williams, however, has been making the case that the Fed needs to alter which aspects of the economy it is targeting in order to achieve maximum, sustainable growth.

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