Jeffrey Frankel News
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The euro has often ignored policy maker pronouncements and “danced to its own tune” during the region’s sovereign debt crisis, according to a working paper published by the European Central Bank.
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The economy in the U.S. will face a protracted period of weak growth rather than slide into another recession, said Jeffrey Frankel, a professor of economics at Harvard University.
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The world’s biggest investors are moving away from allocating money to government bond markets based on their amount of debt, a strategy that has favored the largest borrowers for three decades.
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Recession signals in the world’s largest economy are flashing red again.
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When George W. Bush took up residence in the White House in January 2001, total U.S. debt stood at $5.95 trillion. Last week it was $14.3 trillion, with $2.4 trillion freshly authorized by Congress Tuesday.
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Federal Reserve Chairman Ben S. Bernanke is predicting an election-year economy that’s neither here nor there: growth that disappoints yet keeps the U.S. from slipping back into the recession billionaire Bill Gross has indicated may happen.
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The U.S. may be on the cusp of a recession for the first time in more than two years.
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Housing led the U.S. out of seven of the last eight recessions. This time, it may kill the recovery.
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The U.S. recovery is poised to slow in the second half of 2010 after smaller-than-forecast growth in private payrolls for June capped a month of data indicating weakness in industries from housing to manufacturing.
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House Speaker John Boehner routinely offers this diagnosis of the U.S.’s fiscal condition: “We’re broke; Broke going on bankrupt,” he said in a Feb. 28 speech in Nashville.
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