We spoke with John Rubino today about the intractable situation the Fed now finds itself in. To raise or rates or leave them where they are is the question. Raising them could further strengthen the dollar and thus hurt exports. Leaving rates at near zero isn't really helping things either as shown by the dismal economic stats. Perhaps there is no monetary solution to the quandary. More likely it calls for some true leadership that has been totally lacking up to this point.
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