Deficit triggers rumbling at Fed

George Bush's longtime honeymoon with the Federal Reserve may be ending, this article suggests. The new element is a rising concern at the Fed about the US budget deficit, which hit $413 billion in 2004; a low and declining national savings rate and evidence of speculative behaviour among investors and consumers, and the country's enormous trade and financial deficits with the rest of the world.

Click here to read the article "Deficit triggers rumbling at Fed" on the IHT's website

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