http://www.bloomberg.com/news/2011-06-22/fed-can-t-save-economy-so-politicians-better-get-to-work-view.html
What’s more, businesses and consumers don’t stand to gain much from slightly lower interest rates. Companies are already sitting on record levels of cash, and most homeowners who can refinance their mortgages have already done so. Further easing could give U.S. exporters an edge by pushing down the dollar’s exchange rate against other currencies, but that can only go so far before central bankers in other parts of the world retaliate.
What’s more, businesses and consumers don’t stand to gain much from slightly lower interest rates. Companies are already sitting on record levels of cash, and most homeowners who can refinance their mortgages have already done so. Further easing could give U.S. exporters an edge by pushing down the dollar’s exchange rate against other currencies, but that can only go so far before central bankers in other parts of the world retaliate.
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