NEW YORK — The stock market surged Wednesday for a second consecutive session after a top-ranking Federal Reserve official indicated that policymakers could be amenable to lowering short-term interest rates further.
In a speech in New York, Fed Vice Chairman Donald Kohn said the central bank would remain "flexible" and would "act as needed" to prevent the housing crisis and credit crunch from damaging the economy.
After a string of recent comments from Fed officials that they would stand pat, investors embraced Kohn's remarks as a sign that policymakers were reassessing recent signs of economic softness and could cut rates at their Dec. 11 meeting. That would be the third consecutive Fed reduction, after cuts Sept. 18 and Oct. 31.Source
This is just more pandering to wall street. It is disgusting that the Fed will do anything to save the stock market at the expense of the dollar. How far will they allow the dollar to fall and inflation to rage before something is done?
Perhaps the conspiracy theorist are correct. Won't Americans be much more willing to accept the NAU, and the "Amero" (the proposed new currency between USA, Canada, & Mexico) if the dollar is in rubble.
The Amero and the NAU will be looked at like a savior.
Step 1) Destroy the US Dollar so that the Canadian looney has more value. (Complete)
Step 2) Continue to erode the currency further creating rampant inflation and hardship
Step 3) Propose the NAU and Amero as a solution to the economic disaster
Step 4) Americans gladly hand over sovereignty in order to afford gasoline again
Step 5) Success
Wake up America!