Freeing Bank Surplus Funds From The Fed Could Jumpstart the Economy

Despite the perspective offered by the Unemployment Rate, the domestic economy as evidenced by the August ISM Index and its sister ISM Services Index show the tone of the US economy is anemic. Under President Obama’s leadership, economic growth has averaged about 1.3% a year.  To put that in perspective, the economy grew at a nearly three times faster rate in the “malaise” days of Jimmy Carter. Coincidentally, labor force participation is also the lowest it’s been since the Carter Admin...