“What few economic leaders have acknowledged is that the Federal Reserve itself is responsible for the real estate and credit bubbles, which are the source of our current troubles. By keeping interest rates too low for too long, the Fed ignited a speculative fever and engendered a [...]
“It’s not excluded that, after having carefully examined the situation, that we could decide to move our rates for a small amount at our next meeting. I didn’t say it’s certain. I said it’s possible.” — European Central Bank President Jean-Claude Trichet
by Stephanie Grimmett
Baltimore – (TFN): You can blame a frenchman [...]
Tags: bernanke, central bank, dollar, ecb, eu, euro, european union, Fed, inflation, interest rates, jean-claude trichet, oil prices, paulson, treasury
"The current mess did not result from a failure of the free market, but from too much government interference. The real estate bubble, and the shaky securitized products it spawned, resulted from the Fed artificially setting interest rates too low." — Peter Schiff
by Peter Schiff, Dollar Bear
Baltimore – (TFN): Now [...]
Tags: bear, bear stearns, bernanke, dollar, Fed, inflation, interest rates, jp morgan, mortgage, speculation, treasury