John Rubino writes, “It’s understandable (sort of) that the Fed wants to raise short-term interest rates so it can cut them again in the next downturn. But what if the next downturn is already here? That’s the signal being sent by the world’s other central banks.”
Central Banks around the globe are loosening the monetary strings or pursuing their own variety of QE. How can the Fed possibly tighten when the end result will likely be a stronger dollar and decreased exports?
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