The Fed and the Euro
CNBC says that Ron Paul blames the Fed’s loose money for the Euro’s troubles. Umm, doesn’t expansionary Fed policy raise the value of the Euro? Is there any mechanism under which this makes sense? Or is Paul’s view being misstated?
P.S. This interview seems relevant, but not very enlightening.
P.P.S. Is there any transcript available for Paul’s CNBC interview? I listened to almost the whole thing, and if he blamed the Fed’s loose money for the Euro’s troubles, I must have missed it.