Monthly Archives: May 2008

The Fed Sinks the Dollar: The Price-Wage Squeeze

May 1, 2008
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Counterpunch Against the recommendations of most economists and even the Financial Times of London, the Federal Reserve Board yesterday cut its discount rate by yet another quarter-point, to just 2%. Ostensibly, the intention is to try and spur economic “recovery” – as if a cut in the interest rates would do this. At first...

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