The U.S. economy is showing no signs of catching up with its past growth trend and advanced economies are at risk of “Japanese-style malaise,” Columbia University Professor and Nobel laureate Joseph Stiglitz said.
In October 2001, Stanley Fischer traveled to the London School of Economics to speak on the lessons of his seven years battling turmoil in emerging markets as the International Monetary Fund’s No. 2 official.
Argentina scrapped some of its currency controls a day after devaluing the peso as policy makers sought to stem a financial crisis and restore investor confidence by reversing measures that drove foreign reserves to a seven-year low.
Nobel Prize-winning economist Joseph Stiglitz said today the U.S. needs more fiscal stimulus to aid the economy and that more unconventional monetary easing by the Federal Reserve would do little to spur the recovery.