3/21/2009

Surprise: "Dollar caps worst week in 24 years"

I say "surprise" because what do you expect when the government massively increases the money supply. Reuters has the story here:

The dollar rebounded on Friday but still recorded its biggest weekly slide since 1985 as the Federal Reserve's plans to buy long-term government debt stoked fear about the erosion of the U.S. currency.

The Fed shocked financial markets this week when it said it would buy some $1 trillion of government and mortgage-backed debt in a bid to cut interest rates and kick-start lending. . . . . .

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1 Comments:

Blogger Jungle Jim said...

This is ridiculous. Interest rates are *not* too high. There's no need to lower them further.

3/21/2009 1:31 PM  

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