Monday, August 30, 2010
Phil Flynn: Big Bad Ben!
It is clear as Mr. Bernanke says that monetary policy continues to play a prominent role in promoting the economic recovery. And if it plays a prominent role in the economic recovery, it is a major factor in promoting the price of oil. Without the Fed's help, oil prices would be collapsing under the weight of near record supply. When the Fed takes steps to fight deflation it directly supports the price of oil. It does it in two ways. One way is because it weakens the dollar.....Read the entire article.
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