The Spectacle Blog

Yet More Bernanke Hanky-Panky

By on 8.10.11 | 2:52PM

As I explain today at CFIF, I am not at all happy with the Federal Reserve's latest moves. This artificial manipulation of interest rates is, in the long run, a horrible thing.

Bill Kristol and a key financial guru of his agree with me. So does the Wall Street Journal. So does David Gitlitz:

This is essentially a prescription for weaker money demand....It's likely that all the market indicators reflecting on money demand such as foreign exchange and commodities will continue to exhibit dollar weakness....[T]here's likely to be a heavy price to be paid for the Fed's monetary malfeasance.

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