What's worrying Greenspan?

Has the Fed lost control of interest rates, asks author of bestselling book, The Dollar Crisis.

Richard Duncan is the bestselling author of The Dollar Crisis, a book that was presciently published in September 2002 and correctly predicted the downward direction of the US dollar. The book's grim yet well argued view has led many intelligent people to stop and think about US economic policy and the danger to the global economy that its twin deficits pose. A new and revised paperback edition of The Dollar Crisis was published last week and contains seven new chapters that bring the book right up to date. In the essay below, Duncan argues that the Federal Reserve may have lost control of interest rates.

On November 19, 2004, Fed Chairman...

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