Interest rates today are too low to implement monetary policy; the Fed inflates only when it makes bond purchases.
Action or inaction by the Securities and Exchange
Commission could help provide correctives. Just sitting on obviously useless and dangerous financings, instead of open-handed approvals of questionable underwritings created the past internet bubble. By merely slowing down the underwriting of deals, and the SEC would have dampened many past debacles.So the Fed has had little to do with the bubble solution all the time. In fact, it has aided and abetted the problem. (See the Earl J. Weinreb NewsHole® comments and @BusinesNewshole at Twitter.)
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