The Fed is in full-on inflation mode. Bernanke repeatedly pays lip service to the "serious threat of inflation" and does nothing because HE CAN'T. If he raises rates he'll tank the economy, so he just stays in M3 expansion mode, and the dollar continues to sink lower and lower and lower.
With the real underlying problem being that of liquidity or actually the lack thereof that always arises from the classical mathematically impossible debt based monetary system, and exacerbated by the fact that the system has gone into overdrive with the root cause being unconstitutional governance, it would soon be considered draconian (and the exactly wrong move) had the banking gangsters tried to choke off the decline in purchasing power of the dollar by raising interest rates.
They're screwed; anything they do will be wrong!!!
<<They're screwed; anything they do will be wrong!!!
I think it's absolutely wonderful>>
I agree with the first statement but must must, respectfully, disagree with the second.
Many, many innocent people, friends and family included, will be hurt by the impact of a falling dollar. Particularly, those retired on fixed incomes who have been told to work hard, save your money and invest "conservatively" in your later years and everything will be fine, fine, fine.