Thoughts on Economy
Thursday, March 20th, 2008Global
Broad and deep deleveraging in core financial markets is generating significant volatility and generally higher risk premia.
Tighter financial conditions will be a significant drag on the U.S. and other economies for some time.
Aggressive actions by the Fed should help to limit the U.S. slowdown, but the outlook is subject to heightened uncertainty.
Emerging economies are also expected to slow in coming quarters, but policy offsets should limit the impact of the U.S. led slowdown on the emerging world.
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