>We're just waiting for the Fed to raise interest rates like they did from June 1999 through May 2000
doing it before elections changes the party in the White House, like in 2000 and 2008. So the question is what movie... err... president Fed would find more entertaining - Bush 3, Even More Dumber or Clinton 2, I'm Back, Baby.
With an election cycle lasting a full 3 years, it's always "before elections". The Fed is immune to lawsuits and the FOMC members cannot be removed from office no matter what. They have been given that independence for a reason, much like the Supreme Court justices (not that it's a good reason, but it's still a reason). If they aren't willing to use it, they shouldn't have it. It's long past time to normalize rates, and doing so will put paid to the VC mania just as it did 15 years ago. So be it.
