The move by the commodity-consuming juggernaut China was not a big surprise, as its monetary officials are working to control inflation by curtailing domestic consumption.
In his recent testimony before Congress, Fed Chairman Ben Bernanke indicated his loose monetary policy is working citing strength in the housing and auto industry.
Our fiscal and monetary plumbing was working well enough in FY2004 and FY2005 to permit the economy to achieve real growth of 3.8% and 3.1% respectively.
