Monthly Archives: May 2008

The Fed Sinks the Dollar: The Price-Wage Squeeze

May 1, 2008

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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