Reuters - It's become clear that dealing with the side effects of currency volatility is not enough and that central bankers need to attack the source of the problem - i.e. oil prices. There's implicit concern about currency levels. I think the Fed appreciates there's a high risk that if the ECB were to deliver tightening, as they threatened last week, the implications for a weak dollar and higher oil prices...would be ultimately detrimental both for the Fed's credibility and health of the U.S. economy.
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