A few weeks ago, Europe reported an annual inflation rate of 4% on the Euro. They raised their rates to control for that and the US dollar lost value to the Euro again. For comparison, the U.S. inflation rate reported this past May was 4.2%. It’s now 5%. Our Federal Reserve Chairman has kept interest rates low though, because he’s afraid of a recession (which I already think we’re in). [Heard something funny the other day on differentiating recessions and depressions. A recession is when your neighbor loses his job. A depression is when you lose your job.] The low interest rates aren’t helping the economy though. People are wary. Banks with their worthless asset backed securities are teetering. All I’m seeing everyday are more layoffs and foreclosures and news of bear markets. I think it’s time to raise the federal funds rate dood. Fix the inflation problem first. So I can go to Europe without having to pay $8 $10 for a cuppa joe.