FMC on the Bush Fed, capital flows & Beige Book
Interest in the wording of the Fed's policy announcement has diverted attention from a much larger development -- the continuation of accomodative monetary policy that is extraordinary by the central bank's own standards. FOMC Alert offers the first installment of a two-part report that puts Fed policy in the Bush II Era in perspective.
http://www.fmcenter.org/PDF/Dec03Alert.PDF
Capital Flows Monitor: December 18, 2003
Led by a huge U.S. current account
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