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The Fed is of two or three minds, and it can not concentration on inflation, or employment, or anything else for very long with Congress busy spending and reallocating the dole. The facts are, the US monetary policy is a myth, we are simply unable to do much with inflation or employment so long as the recessionary forces prevail. We much pick an objective and pursue it with some concentration. I suspect that strengthening the dollar will be most productive in the long run. Short run nothing helps much.
Aug 05 21:06 pm
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