...when Fed Chairman Bernanke said that he would "carefully monitor developments in the foreign exchange market". Could it be that Bernanke realizes that a dropping dollar is god awful for inflation?
It seems that Bernanke may put his money where his mouth is, because he signaled that interest rate cuts have come to an end.
In fact, he talked about how rates may need to go up faster than most expect, just to keep inflation at bay.
Expect dollar strength in the months ahead.
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