the man with the beard needs to be fired. He produces just shocks to the system, when he is supposed to do the oppoiste. The dollar is sinking! 600 pips in the hole against a bankrupt euro currency in one day. It is not the strength of EUR but the wrong decisions made by the man at the helm. I hereby called on him to resign or be removed. Monetary policy is first done with words and less action, and the name of the game is to never show your hand. This guy has been read time and again even before he himself knew what he will do. Could you tell us how he can be removed? Currencies belong to nations. Congress: make an emergency meeting and remove him.
no one cares about the dollar. It has been that way since 2002. A falling dollar is good for stocks, actually.
I echo your thoughts, RFT. At this rate, we're going to see 1.50 Euro by Christmas. This could be the catastrophic slide everyone was waiting for. All I can say is get yourself gold, silver and oil. Oil is very cheap, actually.
Is he insane? He increases rates to create the credit crunch, then decrease them slowly, and later when someone as stupid as cramer hits him in the news, he become more agressive when it was too late. Today what he needed to do is simply do what was expected of him, a small cut. His actions are telling a lot of things. The guy is compeletely lost and is an ignorant.
I think that he believes he's trying to get in front of this thing, and he no longer wants to play catch up. If this doesn't work, I truly believe the Fed is out of tricks.
The EU will need to lower their rates eventually and when they start doing that, the dollar will come back.. this is only a short-term dollar pounding.
A falling dollar is what the US needs right now, time for some exports and tourists (If there are anyone left who has money to spend). The dollar will remain the # 1 currency, but what we need right now, is a WEAK dollar to get the economy going. Then we can get back to "normal" - whatever that may be these days.
You are so right Ivan when you made that comment in currency forum. I wish I listened to you more Mr. forex. You have your pulse on them!
Of course I am bitter. The currency is what we use as an exchange, and short term store of value. How could any one plan when one has no idea what the dollar and inflation will be in a short term?