I think somebody mentioned that public officials have to carefully craft their language so as to not inspire panic. I have a feeling the dollar is a main concern behind those doors. BB did come across as “dollar……..what dollar?…….oh you mean our dollar…….got me!” I find it odd that the dollar is sitting this low and under pressure but no one seems to care or talk about it much. The negative impact of a weakening dollar is expensive oil, high interest rates and inflation. Does anybody care about those things anymore?? If our economy is heading into recession or just a slow down which the latest job numbers from California seem to attest to, how can the FED lower interest rates in this environment? It seems like everybody else in the world is doing fine except us. Wouldn’t lowering interest rates yield the opposite effect of stimulation?? It seems to me they have absolutely no room to maneuver if the economy starts heading south. Am I missing something here?
