### Comment:
I think if things stabilize and some of the fiscal issues are resolved like the trade war and shutdown and international economics stabilize (the trade war would help that), we might see one later in the year. The other question is the balance sheet issue which is arguably more important than the rate, but the same logic applies.

### REPLY:
The balance sheet has been (and always will be) more important that the interest rate. Until the velocity of money *and* the money multiplier recovery, the balance sheet is the strongest tool the Fed has.

### END.