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David Littmann, senior economist at the Mackinac Center, is cited in The Detroit News today in a story about rising gasoline prices.
The News reports that the Federal Reserve's recent announcement to buy $600 billion worth of government bonds "will force the value of an already weak dollar to plunge further."
Littmann said the "Fed's money-printing effort also runs the risk of sparking inflation, so Middle Eastern and other oil-producing countries are increasing dollar-priced oil as a hedge."
Littmann is schedule to discuss the issue on "The Frank Beckmann Show" on WJR-AM760 at 9:35 a.m. today.
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