by Angelo Airaghi [Guest Analyst] 3/9/2009 |
As the economic crisis is worsening in the U.S., another government’s intervention might be implemented. In Europe, in the mean time, the European Central Bank (ECB) could cut rates again, if the economic growth will not pick up in the coming months. However, the downtrend in interest rates appears to be getting closer to an end for Europe. |
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Economic numbers are worsening in the U.S. The economic picture is deteriorating further in the United States, as unemployment is slumping into record lows and major U.S. industries are still struggling to remain above water. As a result, the Federal Reserve is expected to keep rates near 0 for most of 2009 and beyond, if growth will not pick up tangibly over the coming months. President Obama, in the mean time, outlined, is manifesto for the next fourth years: more taxation for the rich, a new green economy funded by the government, universal education and free healthcare. Obama’s project will mark an end to more than 20 years of Reagan policy, which started right after interest rates topped near 20% in 1980, and continued throughout the Bush administration. Savings should be the mantra for the future with the help of heavy government’s intervention, especially during hard times like the one we are currently experiencing. In February, the unemployment rate was above expectations and rose to 8.1% from 7.6% in January. Employment felt 651,000 on the top of January 655,000 and December 681,000. February’s decline was broadly based with the service production sector slumping 375,000. |
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Posted on June 9, 2009 at 10:14 AM
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