by Michael Snyder, The Economic Collapse Blog:

They actually did it.  Even though banks are collapsing, the commercial real estate market is imploding, home sales are plunging, and large companies are laying off workers all over America, the Federal Reserve just decided to raise interest rates even higher.  This is nothing less than economic malpractice.  They know that higher rates are crushing the economy, but they apparently believe that more pain is needed.  Officials at the Fed just hiked rates another 25 basis points, and they are now the highest that they have been since August 2007…