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The Fed Hike Will Unleash A Monster Dollar Rally Goldman Predicts; Merrill Disagrees

The "long dollar" trade may be the most crowded ever...

...but that doesn't mean there aren't disagreements where the greenback goes from here, especially after the Fed's historic first rate hike which according to some means the end of the dollar's tremendous year-plus long rally as the market starts to price in the next recession as a result of the Fed's own action, while according to others as a result of rate differentials and other central banks' ongoing debasement of their own currencies, the dollar surge is only getting started.

Why the Fed Is WRONG About Interest Rates

Why the Fed Is WRONG About Interest Rates

Richard Werner – an economics professor and the creator of quantitative easing – says that it’s a myth that interest rates drive the level of economic activity. The data shows that the opposite is true: rates lag the economy.

Economics prof Steve Keen – who called the Great Recession before it happened – points out today in Forbes that the Fed’s rate dashboard is missing crucial instrumentation:

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