No Free Lunch

With the Fed, the Bank of England and recently the Bank of Japan engaging in massively expansionary monetary policy, central banks in South Africa, India, Australia, Poland, Korea, Denmark, Israel and elsewhere are lowering their interest rates too. They are doing this to stimulate growth and in some cases prevent their currencies from appreciating and hurting exports. To the extent it’s the latter, these actions blunt some of Bernanke’s objectives.

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  1. Don Druse says:

    The trip to DC was worth every penny for just being able to connect with you and your amazing wealth of knowledge.
    Don Druse

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