A good interview from retired PIMCO Fed watcher Paul McCulley.
I often say that austerity in the US will never happen. It’s also becoming clear that the intellectual weight behind new, enormous stimulus plans is growing.
Although I’m bullish on USD for the next six months, if it begins to look like guys like McCulley are getting the upper hand (and Obama will win the election), it will be the opportunity of a lifetime to sell USD, especially against commodity currencies and emerging market currencies.
