Finance Geek

The Fed has kept interest rates at zero percent for 27 months and has created–out of the blue–2 trillion new dollars in the last few years alone. If these actions constitute a strong dollar policy, Americans can only cringe at the thought of what a weak dollar policy on the part of the Fed would possibly look like!
Ben Bernanke’s hour-long press conference was packed full of an amazing quantity of contradictions, and economic fallacies. For example, the price of gold soared by $25 during the conference as the dollar was falling to a new 52 week low. In fact, the U.S. dollar has lost…

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This entry was posted on Friday, April 29th, 2011 at 11:42 am and is filed under RealClearMarkets. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.