Taking the long way home

The Federal Reserve on Sunday opened a program to ship U.S. dollars to Europe in a move to head off a broader financial crisis on the continent.

Other central banks, including the Bank of Canada, the Bank of England, the European Central Bank and the Swiss National Bank, are also involved in the effort. The Federal Reserve said the Bank of Japan will soon consider a similar program.

The Fed said the action is being taken in “response to the reemergence of strains” in financial markets in Europe.

Wouldn’t it be easier for the Europeans to go directly to the Chinese, rather then through a middle man?

Related Posts

A weekend at the range

Well, not the whole weekend, but a goodly portion of it at any rate. As I mentioned earlier, Friday was…

Stuck

Every year, I attend a professional conference for IT folks that work in a specific area of the attractions industry.…

Better and better

“Reinflation or bust” would seem to be the motto at the Federal Reserve. Charles Evans, president of the Chicago Fed,…

Leave a Reply

Your email address will not be published. Required fields are marked *