Dr. Peter Morici: The Fed, the yuan and the failure of diplomacy
Jun 22nd, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Dr. Peter Morici: The Fed, the yuan and the failure of diplomacy; when the Federal Reserve Open Market Committee meets Wednesday, no one expects it to raise the federal funds rate - - the overnight bank rate that now hovers below 0.25 percent. However, businesses, politicians and prognosticators are eager, perhaps inappropriately so, to hear clues about when it will begin raising short-term interest rates to a more normal level.