Tuesday, Feb 16, 2010
United States risks precipitating its own next crisis
Australian: Rising US debt may spark next economic crisis, says senior Federal Reserve official
Failure to control US debt may bring next crisis.
Kansas City Fed Pres Hoenig warns the U.S. central bank may come under political pressure to finance the rising debt, a move that could bring higher inflation. "Fiscal policy is on an unsustainable course. The U.S. government must make adjustments in its spending and tax programs. It is that simple," Hoenig said. "If pre-emptive corrective action is not taken regarding the fiscal outlook, then the United States risks precipitating its own next crisis".
Posted by depressed @ 10:06 PM (197 views) Add Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
No comments have been submitted.
Be the first person to add your comment by completing the form below.