Sunday, November 24, 2013
Are the Feds on the Right Track
The Sunday, Nov. 24th New York Times' Business section includes an article entitled "Why the Exist Music May be Hard to Hear" (see link: http://www.nytimes.com/2013/11/24/business/in-fed-policy-the-exit-music-may-be-hard-to-hear.html?_r=0). After reading the article and summarizing it in the blog, state your opinion and be ready to discuss it in front of the class for extra credit.
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It is a fact that United States is still suffering the aftermath of the financial crisis that began in 2007-2008 which has been the most intense period of global financial since the Great Depression back then in the 30s. As a concerned resident I do believe that it was understandable those extreme policies and changes taken in order to stabilize the U.S economy but time is passing it is already 2013, almost 2014 and these extraordinary policies set by the Federal Reserve which is the central bank of The United States of America have not helped and actually we haven't seen any mayor progress regarding the financial system. As a matter of fact, according to the article the unemployment rate is about three percentage point higher that it was seven years ago that is even before we got to the financial crisis. In addition the policy near-zero interest rates and large-scale assets purchases have not really contributed to put things back to normal. The point is that is time to get things straight and clear and the Feds have to either change their old policies that they don't want to quit or start creating other kind of solutions to improve the economy.
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