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Thursday, June 12, 2008


preemptive rate hikes!

should anyone doubt the sincerity of some federal reserve board governors in bolstering the dollar, look no further than charles plosser.

"We need to take steps to insure that inflation does not get out of control," [Federal Reserve President Charles Plosser] said in an interview on the CNBC television network. "We need to act preemptively."
Plosser said Thursday the inflation threat facing the U.S. economy "is serious."

"Inflation has been gradually been creeping up and more than just in oil and food," he said. "The base of inflation is broadening."

the spectre of 1931 awaits.

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