Kansas City Federal Reserve President Thomas Hoenig broke ranks with some of his fellow regional Federal Reserve executives Tuesday, warning against further monetary action as a way to spur economic activity.
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The U.S. fiscal deficit is “scary” and the government should slash entitlement spending, former Federal Reserve Chairman Alan Greenspan said.
“We’re involved in a dangerous game,” Greenspan said, according to Bloomberg News.
The deficit may be a factor in low investment by U.S. companies, as it creates uncertainty about tax policies, Greenspan said in an opinion article for the…
Continue reading Greenspan Says U.S. Deficit Is ‘Scary’
Greenspan Says U.S. Deficit Is ‘Scary’ originally appeared on DailyFinance on Fri, 08 Oct 2010 08:06:00.
The federal deficit will amount to the equivalent of approximately 10% of U.S. gross domestic product for the fiscal year, which ended Sept. 30, according to a Treasury official. That’s about the same percentage as the previous…
Federal Reserve Bank of Chicago President Charles Evans proposed further monetary action on the part of the Federal Reserve, including purchasing more Treasury bonds to cut the cost of borrowing, while lowering his forecast for…
With elections near and joblessness still so high, Congress and even the Fed are chasing short-term solutions that won’t really help matters. More finely targeted policies would be effective, but don’t expect any until, with lu…