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Ending economic stimulus: Timing is essential ZOOMING IN Rudy Romero 01/15/2010

Friday, January 15, 2010


Ending economic stimulus: Timing is essential



ZOOMING IN

Rudy Romero
01/15/2010
The principal function of a central bank has been said to be that of keeping an economy operating in an environment of steady expansion. To this end the central bank deploys its powerful tools — rules and regulations relating to money supply, interest rates, bank reserves and foreign exchange — in a manner designed to prevent, or minimize the impact of, excessive upward or downward economics movements. A former chairman of the Federal Reserve Board, the US’ central bank, put it this way: “A central bank leans against the prevailing economic winds.”

Since 2008 the winds prevailing in the world economy have been ferocious and have threatened to bring on a world downturn worse than the Great Depression

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SourceThe Daily Tribune

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