Less Wiggle Room for Western Central Banks
12. Aug, 2011
Western central banks and monetary authorities have less wiggle room in the current environment. In 2008, the global financial system was operating under terrible economic conditions with numerous financial institutions failing. At that time, the United States was fortunate to have the flexibility to act in terms of using the Federal Reserve, authorizing TARP, and relying on outside capital coming from sovereign funds. Now, the opposite is occurring as economic conditions have gradually improved since 2008; however, fiscal deficits are plaguing governments across Europe and in the United States. [Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view site content.]
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