Biz: Federal Reserve feeling international heat over risky U.S. economic plan
- Call it cause and side effect. The Federal Reserve, concerned about the slow domestic economic recovery, recently announced that they were going to shove $600 billion into circulation, a risky move that could help the economy recover – or put us on the way to Zimbabwe’s hyperinflation. (OK, maybe not that bad.) Anyway, in the wake of all of this, the international market has been freaking out, afraid that the world’s standard-bearer currency will lose value over time. Obama had to defend the Federal Reserve’s announcement in India today, and gold – which is already on a solid upswing of late – topped $1,400 an ounce today. source