Friday, December 18, 2009

Obviously Larry Kudlow Hasn't Read the NY Fed Report on the Excess Reserves

Kudlow writes:
Even with the recent modest corrections, rising gold and the declining dollar tell the story that Bernanke knows how to ease but not how to tighten. The emergency is long past, but he is still operating an emergency policy of ultra-easy, excess-dollar creation.
I can't imagine Kudlow would write that if he understood this.

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