(AGI) – New alarm for a rise in interest rates in the USA.
fueled fears of a credit crunch, after similar statements of the Bank of England governor Mark Carney, has been the President of the Dallas Fed, Richard Fisher, speaking at a conference in Rome on “The impact of the policy Eurozone monetary USA. ” The President, who is also a member of the FOMC, said that interest rates could “return to growth in the spring and summer of 2015.” “Better before or after,” he added, pointing out that the ultra accommodative Fed policy has fueled a bubble risk for financial markets. Fisher has also touched on the subject ECB, remembering that the markets will now have to test the claims made by President Mario Draghi, relating to “do whatever is necessary” to protect the euro. Citing the historic motto of the markets “Do not fight the Fed” (do not fight the Fed), the member of the Fed said that the same way of saying could be applied to the Dragons and that markets could soon test its monetary policy statements. “Draghi is acting correctly,” he assured the American banker, although he admitted that the ECB is much more difficult to manage monetary policy, because it is to act in a context of eighteen countries much more fragmented. Fisher has also focused on the problem of credit, stating that in the USA there is a liquidity surplus of 2.500 billion dollars, of which only a quarter held by the Fed, testifying that there is a real need for credit as in Europe. As for the dynamics of exchange rates, the number one Dallas Fed stressed that continue the flow of capital to the dollar, with contrasting effects on the euro area: on the one hand, the EU will benefit from the depreciation of the single currency, from ‘ another, the flight of capital overseas could create problems of the credit crunch.
25 September 2014 16:19 – Last Updated: 16:19
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