A View on the United States from Europe

Michael Dicks

Business Economics, 2005, vol. 40, issue 3, 35 pages

Abstract: The recent behaviour of the U.S. economy poses two conundrums: short-term interest rates are much lower than would normally be expected, and the yield curve is flat. These suggest to many European observers that U.S. economic prospects are not as rosy as often depicted. In particular, deficits in the federal budget and the current account are not sustainable in European eyes; and significant Fed tightening will be necessary, thus causing a significant deceleration of U.S. growth.Business Economics (2005) 40, 31–35; doi:10.2145/20050304

Date: 2005
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