December 22, 2008 at 11:00 AM EST
Prieur’s Perspective: Holiday Cheer for Markets?
“Americans have always been able to handle austerity and even adversity. Prosperity [greed!] is what is doing us in ” said James Reston former New York Times journalist and Pulitzer Prize winner. Another chapter in the current economic crisis was written on Tuesday when the US Federal Reserve announced a no-holds-barred set of measures to fix the broken credit machine revive economic activity and stem the deflationary tide. According to The Federal Open Market Committee’s (FOMC) policy statement: “The Fed will employ all available tools to promote the resumption of sustainable economic growth ... In particular the Committee anticipates ...
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