In a sharp reversal, the greenback gives up the bulk of its overnight gains against the yen and...


In a sharp reversal, the greenback gives up the bulk of its overnight gains against the yen and the swiss franc, now back at all-time lows. Perhaps the focus is now returning to the struggling U.S. economy. Miller Tabak's Mike Pietronico says there is only one "fact" emerging from the debt deal - "no stimulus coming in 2012."
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Comments (2)
  • Fran Murphy
    , contributor
    Comments (34) | Send Message
     
    The Fed will likely continue to use monetary policy as the US government's main stimulus tool. Otherwise, I would agree that fiscal intervention will be very limited.
    1 Aug 2011, 07:37 AM Reply Like
  • Tom B
    , contributor
    Comments (3620) | Send Message
     
    The nascent recovery has been torpedoed by the "do everything possible to make Obama look bad" crowd. Every reputable economist would argue for MORE Gov't spending (note, for example, the WPA program, after the Great Depression) and the GOP has forced the houses of Congress to go in the opposite direction. The only hope now is for the economy to recover in spite of all efforts to hold it back. Unlikely, given the anemic growth of the past few months. It's hard to sell product when everybody's still unemployed.
    1 Aug 2011, 07:42 AM Reply Like
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