Libor rates are at the highest since 2009
Lisa Abramowicz at Bloomberg looks at the recent jump in Libor rates. The easy answer is that money market rules are changing in October but the risk is that the Fed is playing with fire.
"Fair or not, there is a perception that the Fed's credibility has eroded as it struggles to get a handle on the U.S. economy. It would be wise to give markets some sense of how seriously it takes Libor's rise well before December, starting with Chair Janet Yellen's highly anticipated speech in Jackson Hole, Wyoming, on Friday. It's a surprise the Fed can live without," she writes.
