“The Federal Reserve is debating whether or not it will stimulate the economy to encourage job creation, but any decision to intervene won’t work, says Dick Bove, a banking analyst at Rochdale Securities.
Scrapping regulations to encourage more lending will give the economy the jolt that it needs, Bove says.
“It seems clear that the United States economy’s growth is slowing and that the global economy is facing major challenges. This suggests a need for some action by the Federal Reserve and other central banks,” Bove writes in a note to clients, CNBC reports.
“It also appears to be just as evident that lowering interest rates to zero and printing more money are not effective options.”
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