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Mike Bird – The Fed is at risk of repeating one of the biggest mistakes in the history of the US economy

Everything seems to be going wrong in the global economy right now.

Chinese growth is slowing, Hong Kong’s Hang Seng is officially in a bear market, Greece is heading into elections, and emerging markets around the world are feeling the strain of the strong US dollar.

In the advanced world, the United States and United Kingdom are seeing some decent growth, while Japan and the eurozone are expanding modestly at best.

And the next important question for everyone is whether the US Federal Reserve thinks the backdrop it’s looking at is good enough to raise interest rates for the first time in nine years. The Fed funds rate has sat at 0.25% since December 2008.

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