Could we please try raising rates?

From MarketWatch.

Crude-oil futures climbed to unprecedented levels Thursday, as weakness in the U.S. dollar, influenced by the U.S. Federal Reserve’s decision to stand pat on interest rates, sent prices to a peak above $140 a barrel.

I don’t think that raising rates are going to cure all the economic problems we face. I don’t think there is a quick cure for all the economic problems we face. But when you depend on the rest of the world for financing, I really think that ignoring the value of your currency is a big mistake.

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