Just want to add this to the fed move. They can't cut rates for obvious reasons...they can't raise rates....for obvious reasons. Bernake has a tendency to do something creative and likes to surprise. What if we see a co-ordinated efforts by central banks to support the dollar by interviening in the currency markets.
Just a thought.
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I don't think the Fed has the luxury of "doing nothing."
The inflation genie is out of the bottle and she will be impossible to put back in. While Bernake seems lost, the seeds for our current dilemma were sown by Greenspan.
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