The prime largely follows fed rates, and QE and stupid TARP were to prop up banks destroyed by low rates.
Back when you said "current low interest rates in most markets are an economic fiction created by QE" the story I was getting was that low market rates "destroyed the economy" and were a "fiction created by QE". That's why we looked at "the prime rate's listed here" to see how rates were falling before the recession and econ activity did not stop contracting until after rates had reached their low point.
Now it sort of sounds like we're together on the idea that low rates came after fed action and that QE did not cause ZIRP and wreck the economy. The thing about QE/TARP only "to prop up banks" is getting off topic --the thread is about Yellen and her problems w/ leaving ZIRP behind. Ordinarily I got no problem w/ hijacking a thread for some new theme but somehow this is sounding like the problem I got w/ my liberal in-laws who start one attack and when I point to the facts they just quickly change the target.
Please work w/ me on this, where do we stand on QE making a ZIRP that's wrecking the economy?