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The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
WASHINGTON (MarketWatch)
The U.S. economy is being held down by lack of demand
and not structural factors, said Sandra Pianalto, the president of the Cleveland
Federal Reserve Bank, on Thursday
"My current assessment is that the real
economy continues to show considerable cyclical weakness
This assessment, along
with my outlook for moderate growth and subdued inflation, calls for today's
highly accommodative monetary policy," Pianalto said in a speech at a conference
sponsored by the National Association of Business Economics in Cleveland
Pianalto forecast growth slightly above a 2.5% rate this year and around 3.0% in
2013 and 2014
"At this pace of growth, I expect that it could take as long as
four to five years for the unemployment rate to fall to the 6% rate," Pianalto
said
Inflation should run very close to the Fed's target of 2% through 2014,
she added.
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