DOUG
Bush's pathetic policies have hurt our country in so many ways...
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The dollar fell to a fresh record low against the euro on Wednesday as Ben Bernanke signalled that the Federal Reserve is likely to cut interest rates again next month.
The single European currency breached $1.51 after the Fed chairman made it clear that the US central bank remained firmly focused on the risks to growth, in spite of some increase in inflation risk following a run of bad price reports.
The Fed “will act in a timely manner as needed to support growth and to provide adequate insurance against downside risks”, Mr Bernanke told Congress.
The Fed has cut rates five times since last summer, taking rates down from 5.25 per cent at the beginning of August to the current level of 3 per cent.
However, Mr Bernanke said rate cuts to date had only had limited effect in easing overall financial conditions, in particular in the housing market.
“It has been very difficult to lower long-term mortgage rates through Fed action,” he said, adding “what we have done has been mostly just to offset the tightening of credit” that would otherwise have taken place.
See here.
Dollar Hits New Low
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Dardedar
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DAR
If anyone thinks that this was part of the plan, the US still has a "strong dollar policy." So that means in this regard, Bush is an utter failure.
Check this out:
Euro arrives and continues to descend during the final days of Clinton. Bush steals the election in the fall of 2000 and the euro spikes. Perhaps the world knows how bad republicans are for the American economy. If not, they have learned once again. Before Bush you could buy the euro for as low as 83 cents (I thought of buying some). Now it costs $1.51 and probably will soon be worth double what it was pre-Bush.
I checked: the euro fell "to a record low of 82.3 US cents in October 2000." Then disaster hit. Oil is up almost 10x over the lowest days of Clinton. Gold at least 3x, corn about 4x. For the first time in decades the Canadian dollar has gained about 35 cents to now surpass the value of the US dollar. Bush and his idiotic illegal war have been a complete disaster for the US.
D.
If anyone thinks that this was part of the plan, the US still has a "strong dollar policy." So that means in this regard, Bush is an utter failure.
Check this out:
Euro arrives and continues to descend during the final days of Clinton. Bush steals the election in the fall of 2000 and the euro spikes. Perhaps the world knows how bad republicans are for the American economy. If not, they have learned once again. Before Bush you could buy the euro for as low as 83 cents (I thought of buying some). Now it costs $1.51 and probably will soon be worth double what it was pre-Bush.
I checked: the euro fell "to a record low of 82.3 US cents in October 2000." Then disaster hit. Oil is up almost 10x over the lowest days of Clinton. Gold at least 3x, corn about 4x. For the first time in decades the Canadian dollar has gained about 35 cents to now surpass the value of the US dollar. Bush and his idiotic illegal war have been a complete disaster for the US.
D.