Boom Bust Season 2 Episode 313 Jim Rickards: Fed Raised Rates Too Late

Jim Rickards, an economist and author, shares his thoughts on the Federal Reserve's recent decision to raise interest rates. He argues that the Fed waited too long to make the move, and that it could lead to negative consequences for the US economy.

Rickards believes that the Fed has been too cautious in its approach to interest rates. He argues that the central bank should have started raising rates sooner, and that by waiting so long it has created a situation where it has limited options going forward.

One of the main reasons for Rickards' concern is the amount of debt in the US. He argues that the country is carrying too much debt, and that the Fed needs to raise rates in order to reduce the risk of a debt crisis.

He believes that the low interest rates of the past few years have led to a situation where people have taken on too much debt, both personally and at a corporate level. He argues that higher interest rates will encourage people to pay down debt and avoid taking on more.

Despite his concerns, Rickards acknowledges that the Fed's decision to raise rates is a step in the right direction. He believes that it is important for the central bank to continue to raise rates gradually over the coming months in order to avoid any sudden shocks to the economy.

In addition to discussing interest rates, Rickards also shares his thoughts on the global economy. He argues that we are currently in a period of economic stagnation, and that many countries are struggling to grow.

He points to the low levels of productivity growth in many advanced economies as evidence of this stagnation. He argues that without higher productivity growth it will be difficult for countries to achieve sustainable economic growth.

Overall, Rickards provides a sobering assessment of the current state of the US and global economies. While he believes that the Fed's decision to raise rates is a positive step, he cautions that there are still many risks and challenges ahead.

Boom Bust season 2 episode 313 provides a valuable insight into the thinking of one of the world's leading economists. For anyone interested in understanding the state of the global economy and the challenges it faces, this episode is a must-watch.