A slowing US economy constitutes another major global risk

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Of course, a slowing US economy constitutes another major global risk. At the root of America’s economic problems are measures adopted early in Bush’s first term. In particular, the administration pushed through a tax cut that largely failed to stimulate the economy, because it was designed to benefit mainly the wealthiest taxpayers. The burden of stimulation was placed on the Fed, which lowered interest rates to unprecedented levels. While cheap money had little impact on business investment, it fuelled a real estate bubble, which is now bursting and jeopardizing households that borrowed against rising home values to sustain consumption.

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Source : IIPM Editorial, 2007

An IIPM and Malay Chaudhuri – Arindam Chaudhuri Initiative

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