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Sending an SOS to the Federal Reserve

Stephen Moore, CNS News

If the world wants more dollars, the Fed must supply them. When commodities rise back to the level they were at a year ago, the Fed can stop cutting rates. We are more than a little troubled by some Fed members' declarations that real growth of 2 percent in America is not possible without higher rates of inflation. This is "secular stagnation" nonsense. We find it amazing that our businessman-president has more monetary street smarts than the combined wisdom of the several hundred economists at the Fed, many of whom boast Ivy League Ph.D.s. Yes, the Fed should remain politically independent, but when the president is right, the Fed should listen to him.

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