Just a minute; American interest rates.(The Fed and interest rates)(Brief Article)
Economist (US), The, January, 2005
Angst revealed by the Fed
NEW support for the claim that American interest rates have been too low for too long came on January 4th from no less a source than the Federal Reserve, when the central bank released the minutes of its December 14th rate-setting meeting. It seems there was much fretting over the risks of quickening inflation and of cheap money's role in encouraging investors to seek more risk. Markets for bonds, shares and currencies all took the minutes as a sign of growing hawkishness.
As a result, the dollar climbed to a three-week high of $1.32 against the euro on January 5th, breaking the fall that had seen Europe's single currency strengthen to $1.36 in the final days of 2004. The yield on America's ten-year Treasury bond rose...
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