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Obama’s Stimulus Plan: When is There “Too Much†Stimulus?
The Congressional Budget Office’s announcement Wednesday that 2009’s budget deficit was going to be $1.19 trillion – before a nickel of President-elect Barack Obama’s stimulus plan has been included – raises a crucial question for the U.S. economy: Is there too much stimulus, and what effect would too much stimulus have?
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There is certainly more stimulus than in any previous recession. The benchmark Federal Funds rate is essentially at zero, which has never previously been attempted, while inflation is still…
9Jan2009 | Money Morning | 0 comments | ContinuedUS SESSION: GOVT. BAILOUT PROVIDES SHORT TERM EUPHORIA, STILL ROOM FOR ADDITIONAL MARKET TURBULENCE
The dollar was battered in intraday trading as the market reacts to the announcement of another US Govt. bailout. The EurUsd rose sharply by 190pips to the high range of 1.27, while the UsdJpy is mostly flat slight under 97. The GbpUsd rose over 70 pips finding resistance near 1.50 as risk aversion eases in the marketplace. Equity futures are pointing higher in the US, following the trend of European stock indexes with the FTSE up 175pts or 4.6% and the DAX up 141pts or 3.4%. Commodities are consistent with the bias towards risky assets in early trading, oil is…
24Nov2008 | Advanced Currency Markets | 0 comments | Continued
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