Kudlow’s Money Politics

Did the IEA Just Deliver a QE3 Quick Fix?

Did the International Energy Agency (IEA) just deliver the oil equivalent of QE3?

The decision to release two million barrels per day of emergency oil reserves — with the U.S. covering half from its strategic petroleum reserve — is surely aimed at the sputtering economies of the U.S. and Europe following an onslaught of bad economic statistics and forecasts. This includes a gloomy Fed forecast that Ben Bernanke unveiled less than 24 hours before the energy news hit the tape.

I wonder if all this was coordinated.

Read my full column here.

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