Wrong Remedy

Forbes, Steve
December 2006
Forbes Asia;12/25/2006, Vol. 2 Issue 22, p11
The article comments on the weakening of the U.S. dollar. The culprit is the Federal Reserve, which has been printing money at an inflationary pace and at a faster clip than the Bank of England, the Bank of Japan or the European Central Bank. The best gauge of monetary disturbance is gold. Unfortunately, Federal Reserve Chairman Ben Bernanke and most other central bankers still try to steer monetary policy by guessing the appropriate level of short-term interest rates.


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