Fed Will Print Dollars to Help Europe
“After months of quietly watching from the sidelines, the United States finally intervened in the European debt crisis on Sunday night. The Federal Reserve announced that it would open currency swap lines with the European Central Bank — in essence, printing dollars and exchanging them for euros to provide some liquidity for European money markets and banks.” (New York Times, Monday)
They’ve got to be involved in everything.
FEE Timely Classic
“The Myth of the Independent Fed” by Thomas J. DiLorenzo
Comment by Darren on 10 May 2010:
My gut feeling is that this is really an anti Euro move that the Europeans are only accepting out of desperation. No doubt the powers that be in the US are dancing in their offices about the demise of the Euro. “Long live the Dollar” is no doubt their chant.