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Wednesday, November 10, 2010

German Finance Minister Hits U.S. Currency Manipulation

“The Fed’s decision, in essence, to print $600 billion and pump it into the economy through Treasury bond purchases has drawn fire from foreign leaders, notably German Finance Minister Wolfgang Schaeuble, who say it amounts to currency manipulation. The action seeks to lift the U.S. economy in several ways, including by lowering interest rates, boosting the stock market and weakening the dollar, which would make U.S. exports more attractive.” (Washington Post)

Do as we say, not as we do.

FEE Timely Classic
“Controlling Inflation by Controlling Government” by Dwight R. Lee