Portfolio manager Axel Merk's explains why the cut in interest rate is bad policy to the Wall Street Journal.
" 'Lowering rates makes the dollar less attractive, without giving
the potential for an economic boost,' said Axel Merk, manager of the
Merk Hard Currency Fund. 'The folks that need access to money -- subprime borrowers, people who have debt obligations -- aren't helped by a lower fed-funds rate.' "
