Wednesday, February 16, 2005
Economist: Fed Has Growth Bug
The brave Stephen Roach over at Morgan Stanley reports that the worlds central banks are throwing in the towel regarding economic imbalances. The US government is going along. "Once again, America’s fiscal policy rests on the belief that growth is the rising tide that lifts the revenue boat. America’s fiscal discipline is not about tough choices —it’s a classic supply-side growth gambit. America’s central bank also has the growth bug again".