Calls for the Federal Reserve to raise rates are getting louder, especially in the face of a declining dollar.
Over the weekend, the Barron's cover story called on Ben Bernanke to do exactly that, to "raise rates to prevent the dollar from collapsing and inflation getting out of control".
But is this enough to call the Fed to action?
Maria Bartiromo discussed this very important and topical issue in her exclusive interview with Roger Ferguson, President and CEO of TIAA-CREF. Ferguson is also the former Vice Chairman of the Federal Reserve, and he said that talk of the Fed raising rates right now is premature.
However, he isn't surprised that many are calling for higher rates as "there is a lot of liquidity in the system."
Still, Ferguson thinks that the "economy is still fragile and the Fed should and will take its time in raising rates." He added that while it's too "early for the Fed to have a definitive date in time, they should be thinking about the exit strategy."