global food crisis

The Global Food Crisis as a Monetary Phenomenon

The Federal Reserve cut interest rates again on Wednesday in an attempt to stimulate the domestic economy. While the combined impact of another rate cut and the impending arrival of stimulus checks in taxpayers' bank accounts may bode well for American retailers, the rate cut may also exacerbate the global food crisis.

That same day, Soledad Requena was one of 1,000 women banging pots and pans outside Peru's Congress, protesting soaring food prices. If the government can't increase subsidies on products like rice, bread and meat, she asked, "Where will we go to eat?"

How does cutting short term interest rates effect international food prices? Read more...

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