"Fighting Recession With Panic"

John L. Chapman, American Enterprise Institute | March 18, 2008

As a reserve currency, the US dollar's value was only sustainable while the economy was growing. ++ As many economists expect a recession, the Fed is moving aggressively to pump more liquidity into the US banking system. ++ This and increasing trade protectionism are adversely sustaining consumption, hindering capital formation and entrepreneurship, and halting the creation of wealth necessary to recovery.