Editorial: Fed needs to lay off rate cuts

The Federal Reserve hint that it will take a break from cutting interest rates after this week's meeting "sounds like the alcoholic who tells his wife he'll quit drinking next weekend, after one more bender," according to a Wall Street Journal editorial. The newspaper said eight months of rate cutting has proved to be a major policy mistake. "What Chairman Ben Bernanke needs isn't a gradual withdrawal from easy money but membership in Central Bankers Anonymous," the Journal said.

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