The great procrastination

Everyone is wondering when America's central bank, the Fed, will raise interest rates. But it is caught in a trap from which there is no escape.

This commentary is from the column “Mayers Weltwirtschaft” (Mayer’s World Economy) which was published in the FAS (Frankfurter Allgemeine Sonntagszeitung) and is available online at www.faz.net (in German only).