Back in the ancient times of Q4 2012 (ahead of the election) the White House kept telling us that the economy is booming.
The Fed has kept overnight interest rates near zero since late 2008 and it has tripled its balance sheet to about $3 trillion through its purchases of securities, which are aimed at pushing longer-term borrowing costs lower. However, the recovery from the 2007-2009 recession has been stubbornly tepid. A report on Wednesday showed the economy unexpectedly contracted in the fourth quarter







