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Hawkish Fed Needed for Bullish Dollar
Posted on June 23, 2008
The Federal Reserve begins their two day monetary policy meeting Tuesday and judging from the price action of the US dollar and reports from the press, dollar bulls are treading carefully on the fear that the Federal Reserve will be non-committal. The continual rise in food and energy prices is adding to the burden on US consumers. The unemployment rate jumped from 5 to 5.5 percent last month, the largest rise in over 10 years. Unfortunately the labor market is expected to worsen as companies like Citigroup and Goldman Sachs announce more layoffs. With this in mind, many people are wondering w...
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