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BAML Says “Fed Blinks”; Lowest Interest Rates In 5,000 Years

“The Fed Blinks,” blares a headline in an investment strategy piece from Bank of America Merrill Lynch today, one that takes the tone that the Fed catered to those on Wall Street who were warning of a threat to the main street economy if the Fed lifted rates.

BAML: Interest rates "lowest in 5,000 years" at depression levels

As short term interest rates are the “lowest in 5,000 years,” running at the zero level not seen since the Great Depression in 1930, a BAML piece from Chief Investment Strategist Michael Hartnett along with Investment Strategists Brian Leung and Garrett Roche notes seven primary thoughts.

The first thought is that the Fed caved to threats that China and withdrawing stimulus from Wall Street could reverse what little main...