Monday, August 29, 2011
Obama Coordinating with Europe, IMF, Fed?
It seems that Barack Obama has been working behind the scenes to persuade Angela Merkel to emphasize austerity a little less and stimulus a little more. He's also been talking to Ben Bernanke and Christine Lagarde, both of whom have recently said that the global economy is slowing and more stimulus action by governments is needed. Now, if only he could bring the ECB on board (see previous post), and if only these commitments were more substantial than they are likely to be, we might be getting somewhere.