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| Subject: One wonders if bush will fire sachs such as he did his first sec of treasury | |
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Author: Bev |
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Date Posted: 09:47:31 03/14/08 Fri In reply to: Duncan7 's message, "Re: Oh come on now. You supported Bush and all that he wanted" on 23:24:12 03/13/08 Thu for making the same kind of statements that sachs is making also here is another opionion on the state of our economy . Another thing what makes you a expert in the feild of economics??????? US Faces Severe Recession, Feldstein Says Topics:Consumers | Federal Reserve | Economy (Global) | Economy (U.S.)By Reuters | 14 Mar 2008 | 10:37 AM ET Font size: The United States has entered a recession that could be "substantially more severe" than recent ones, former National Bureau of Economic Research President Martin Feldstein said Friday. "The situation is very bad, the situation is getting worse, and the risks are that it could get very bad," Feldstein said in a speech at the Futures Industry Association meeting in Boca Raton, Florida. NBER is a private sector group that is considered the arbiter of U.S. business cycles. Feldstein said the federal funds rate is headed for 2 percent from the current 3 percent. He added that lower short-term rates from the Federal Reserve would not have the same impact in the current downturn, in terms of reviving economic activity. "There isn't much traction in monetary policy these days, I'm afraid, because of a lack of liquidity in the credit markets," he said. The Fed's new credit facility, announced on Tuesday, "can help in a rather small way ... but the underlying risks will remain with the institutions that borrow from the Fed, and this does nothing to change their capital," Feldstein noted. Feldstein noted "powerful forces (that) will continue to drive inflation higher." And while inflation expectations are still relatively well contained, "you wonder how long that's going to last," he said. Copyright 2008 Reuters. Click for restrictions. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| THat should read Paulson not sachs (NT) | Bev | 10:17:29 03/14/08 Fri |