Jeremy Siegel: Three phases of fed tightening

In this Yahoo! Finance article by Jeremy Siegel, he describes three steps the Fed must take and why it will be beneficial to our economy (even though it may seem counterintuitive.

1. Has already taken place and that is increasing the Fed Funds rate
2. Further increases in the Fed Funds rate and increasing the rate it pays for reserves
3. Open market sales and further increases in the rate it pays for reserves

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