For that, thanks goes mostly to Alan Greenspan and his colleagues at the Federal Reserve, for slashing interest rates to the bone and saying that they will keep them there.
He placed the most blame on the Federal Reserve Board for raising interest rates.
Last week, the US Federal Reserve cut interest rates for the sixth time this year.
Last week, the Federal Reserve cut interest rates for the seventh time since September but indicated it could be the last reduction for a while.
With the U.S. Federal Reserve calling for near zero interest rates through mid 2013, that leaves the U.S. dollar on the bearish side of an interest rate differential play.
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In April, the US central bank, the Federal Reserve, cut interest rates for a fourth time this year to 4.5% in a bid to stimulate the nation's flagging economy.
The central bank last year cut interest rates and raised reserve requirements for foreign and local banks in an unorthodox attempt to deter rising capital inflows.
Alan Greenspan, the former Federal Reserve Board chairman who has been criticized for keeping interest rates so low in 2003 and 2004 they fueled the housing bubble, testified earlier Wednesday that demand for loans to securitize, especially by Fannie Mae and Freddie Mac, were what inflated the bubble, not low short-term interest rates.
This allows producers in these areas to apply for low-interest loans from the government, and opens up land in the conservation reserve programme for use for grazing and hay production.
This is not a call for higher interest rates from the Federal Reserve.
The head of the Federal Reserve Bank of Chicago, for example, thinks that interest rates should remain at zero until unemployment drops to 6.5%.
Moreover, while the Federal Reserve has stopped cutting its key interest rate target for the time being, the central bank does not show any signs of raising rates above the 2% mark any time soon--a good indication of the dollar's relative weakness.
On October 6, 2008, the Federal Reserve started paying interest on bank reserves (IOR) for the first time in its (then) 95-year history.
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In Sydney, meanwhile, banking stocks advanced after quarterly inflation data appeared tame enough to keep hopes alive for an interest-rate cut from the Reserve Bank of Australia.
The Federal Reserve has signalled that it intends to keep interest rates low for another two years.
The Federal Reserve reaffirmed last week that real interest rates will remain negative for the long haul.
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The Federal Reserve subsequently reduced interest rates, and some investors are hoping for further reductions to help the economy along.
This week America's Federal Reserve raised interest rates by a quarter of a percentage point for the 16th meeting running, to 5%.
The central bank has raised interest rates three times and increased the reserve requirement for lenders six times in 2011 to rein in inflation.
You can understand why the Federal Reserve Board is so invested in keeping interest rates near zero for the foreseeable future which is several years to come.
And you must watch out for signs of danger like the possibility of the Federal Reserve raising interest rates even a fraction.
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Last month, the Reserve Bank of India (RBI) lowered its key interest rate for the second time in three months in a bid to curb inflation.
When we take the Federal Reserve position of lowering interest rates, we have the perfect storm for runaway inflation and much higher metal prices in the future.
Last month, the Reserve Bank of India (RBI) lowered its key interest rate for the second time in three months in an attempt to revive the economy.
The Federal Reserve has stated its commitment to keep short-term interest rates low for a long time.
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The Reserve Bank of Australia on Tuesday announced that it was raising interest rates for the fifth time in six months, to 4.25%.
The eurozone can't take all the credit for that - the Federal Reserve's commitment to keep its official interest so low is clearly a big part of it.
For a long time, even as the Federal Reserve pushed short term interest rates to very low levels, the broad measure of money, M2, grew only around 5 percent per year.
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For months, government officials have warned investors that the economy is headed for a harsh first half of 2008 as the Federal Reserve has slashed interest rates to encourage economic growth.
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