Friday, 7 March 2008

The Federal Reserve's rescue has failed

This is Ambrose's first article for two months and it looks like a good one, too.

The verdict is in. The Fed's emergency rate cuts in January have failed to halt the downward spiral towards a full-blown debt deflation. Much more drastic action will be needed.

The Federal Reserve building in Washington DC
The Federal Reserve building in Washington
Yields on two-year US Treasuries plummeted to 1.63pc on Friday in a flight to safety, foretelling financial winter.

Looks like Ambrose is scared!

"For the first time since this Greek tragedy began, I am now really frightened."
For more:
By Ambrose Evans-Pritchard,

No comments:

About Me

I teach Film, Media and English Lit.