Embarrassing article. Low interest rates have been a disaster, we have asset bubbles in real estate, bonds and stocks as a result and it and it will end very badly. The fact this author thinks these problems would have been better fixed with regulation is a total misunderstanding of economics. Low interest rates ARE the problem and without them we never would have had these asset bubbles.

To say inflation is low is a total joke. The CPI is reverse engineered to understate inflation. Inflation is the expansion of the money supply and the money supply is expanding much more than 2% a year and most of that credit is going to speculation in real estate, bonds and stocks.