Who knew that the Federal Reserve and the Central Banks of the world were so essential to healthy markets or unhealthy markets; or is it both? Years ago Central Banks labored in obscurity leaving the maintenance of a sound economic environment to their government’s fiscal policies, the ebbs and flows of the economy and global trade and industry innovation. Then, in the midst of the stagflation of the 1970’s, Federal Reserve Chairman Paul Volcker emerged to co-star with the fiscal authorities in the slaying of the “Inflation Dragon”. They have been Rock Stars ever since. Newsletter 6-30-2013
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