The Fed and The World Wide Food Riots

With the Fed holding a two day meeting they have an opportunity to discuss things at length and topics that they may not have the time for when they hold a one day meeting. Which temporarily brings me to another point - that the Fed should hold two day meetings all the time as the one day meeting from my perspective seems to be a bit hurried. I will have to look at that another day as today I wanted to mention that the Fed may be able to discuss the food riots that have occurred during the past couple of months. What do the food riots have to do with the Fed? Well the Fed is the steward of the US dollar (even if the US dollar is officially the Treasury's territory) and since the Fed has slashed rates so much the dollar has been in rapid descent. The lower dollar has caused many commodities which are priced and traded in US dollars to march higher. These higher costs have been passed onto the consumer and often to the consumer in foreign countries whose populace receives low wages. This has caused food riots. A terrible situation and my heart does go out to those who are suffering. Amazing though how the Fed's lower interest rates have led to food riots half way around the world. We live in a very inter-related world, actions here can be felt around the world and vice versa. Members of the Fed are aware of the problems and some in recent days have turned rather hawkish. Today's meeting and the Fed's communique that follows will be all the more interesting because of these factors.