re: Not yet.
They are attempting to avoid Stagflation: Avoid High Unemployment and High Inflation by encouraging even higher inflation.
Time will tell if it works. I think it will.
And it will magically reduce the real value of our national Debt while encouraging more exports.
Unfortunately, the greater exports that result from a much weaker dollar will be offset significantly by the increased cost of our biggest import.
Oil and Gold will much head higher from here.
I'm hearing that the Fed will cut rates another 1%+ by the end of 2008.
Anything to avoid unemployment appears to be the policy.
From a Humanist perspective...That's probably a good policy.
From a Capitalist perspective...That sucks.