Latest Issue

Is the Fed’s interest rate hike a major error?

The shadow of the financial crash is finally being cast off

By George Magnus  

Chair of the US Federal Reserve Janet Yellen speaks at a press conference in Washington in 2014. ©PA, XINHUA /LANDOV

On Tuesday and Wednesday this week, the Federal Reserve will hold its last meeting of the year. And announce its first hike for 10 years. There are at least three reasons for the heightened state of anticipation surrounding it, especially the angst about whether it will amount to a policy…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect