The helicopter is fueled up and ready for takeoff

The sound you hear in the distance is the sound of your money losing value by the minute. Helicopter Ben is preared to throw some more paper at the economy in hopes of increasing stock prices come Tuesday. Of course there are always economists trotted out whenever an irrational move by the Fed comes to play up the importance of Helicopter Ben's latest paper deluge. Today's comes from the article linked above:

The Fed's rate cuts have added to the downward pressure on the value of the
dollar, which recently plunged to a record low against the euro and has fallen
sharply against the Japanese yen. The drooping dollar is stoking fears that
inflation might take off. The weaker dollar could raise the cost of imported
goods entering the U.S. and lead American companies to raise prices as
foreign-made products become more expensive.

To Hoffman, that is a case for going with the half-point rate reduction. Other analysts believe the situation is so dire that the Fed must cut deeper. Brian Bethune and Nigel Gault, economists at Global Insight, are among those predicting a three-quarter point reduction. Given the turmoil on Wall Street, there even is a chance of a 1 percentage point cut, they said.

Note that nobody says that perhaps cutting rates the first couple of times did not work so let's not further devalue the dollar again. To quote a famous saying "the definition of insanity is doing the same thing over and over and expecting different results. Oh well, tell me what you think.

The future of our money supply: