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Geithner's cognitive dissonance





Treasury Secretary Tim Geithner today said that "a strong dollar is in our interest as a country," even as the dollar plumbed new, all-time, nominal and real lows against a large basket of other currencies.

We can only hope that this week's FOMC meeting will find our Fed governors less clueless about the reality of what is happening to the dollar. The dollar has never, ever, been so weak, and it's no coincidence that U.S. monetary policy has never been so expansive and so fraught with uncertainty.

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