An interesting opinion piece from a US University of Maryland economist and emeritus business professor, Peter Morici, carried by Dow Jones Newswires (gated).Says the Federal Open Market Committee (FOMC) should not cut the Fed Funds rate, "Fed policymakers appear to have lost touch with economic reality".Citing:federal deficit this year will be 6.7% of GDP ... a lot more fiscal stimulus and it requires greater monetary restraint to keep inflation in checkbond investors should require higher interest rates to offset the risks that Washington could inflate its way out of its large debt service burdeninflation, while improved, remains significantly elevated inflation expectations ... are hardl
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