Federal Reserve predicts no recovery for 6 years; dollar plummets

July 18, 2010

If a new financial crisis is to start in 6 years, it may come just as we finally begin to recover from the present crisis. That from the Federal Reserve, whose recently-released meeting minutes, according to the London Telegraph revealed that the central bank predicts the US will not regain its fiscal footing until 2016. The minutes indicate that the Fed will soon be massively inflating the money supply again in another desperate attempt to spark stimulus. News of this immediately sent the dollar plummeting against the pound and the euro. This also comes as a new sovereign debt credit rating agency based in China has downgraded the US rating from AAA to AA.

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