AM850.com

A Florida expert is urging the Fed to begin raising key interest rates this summer. University of Central Florida economist Sean Snaith says such a move would NOT contradict what the central bank has been saying for some time about interest rates. Snaith, who is the director of the UCF Institute for Economic Competitiveness says rates could be increased by one and a quarter or one and a half percent by the end of the year without putting the recovery in jeopardy , and that type of increase would be a hedge against inflation. Snaith says if you leave a loose money policy in place, like was done after the 2001 recession, you run the risk of creating the same problems that led to the 2008-2009 economic meltdown. Snaith admits the recovery is weak, but doesn't think the slight increases he is supporting will lead to any problems with the recovery. Right now interest rates from the central bank are at zero and he DOESN'T think leaving them there much longer would be wise.