cyclingscholar

Comments by Plosser and Paulson Send Dollar Higher

Nonsense. A rate increase and firm commitment to fight inflation should be announced and enacted NOW. Bush should meet with his advisors/Fedspeak people and (1) announce a 1/4 hike in the discount rate; (2) announce oil released from the SPR as needed to curb price spikes, and (3) demand drilling in ANWR and hold congress IN SESSION until the law passes. Oil prices would collapse to $80 a barrel overnight, Obama would be history, and we'd never look back. The cost would be short term severe recession (6 to 12 months), much as Reagan short term medicine caused...but worth it in the long run.

cyclingscholar