The Fed's Zero Interest Rate Policy Is Batting Zero

David Ranson, Forbes
Zero interest rate policy (ZIRP) was a leap into the unknown rather than an application of established knowledge. The Fed’s unquestioned authority has long protected its initiatives from serious oversight. But massive sums of bank reserves created by monetary policy have failed to create fresh credit; most of those dollars remain classified as “excess” on the banks’ books.This is not a new experience. A check of long-term historical relationships shows that the growth of bank reserves is related inversely to economic and stock market performance.

gas can oxy pro elite natural gas cars