Federal Reserve ready to act if necessary
Even though the US Federal Reserve has confirmed there are no imminent plans to provide additional support for the US economy chairman Ben S Bernanke today confirmed that the authorities are ready to act as and when required. While the US Federal Reserve has no current plans to provide additional finance to the markets it is the very fact that it is being considered which has spooked some investors.
In many ways at this moment in time the US economy is holding the worldwide economy up and if this was to falter in the short to medium term we can only speculate about the damage this would cause. However, there is no doubt that the financial crisis caused by the credit crunch and the resulting recession still has some way to go to work its way completely through the system. As a consequence, we will see problems and issues arising on a regular basis over the next few years and the scars of this particular economic downturn will be there for all to see for many years to come.
All eyes will be on the US economy in the short to medium term with hopes that perhaps the US economy can remain fairly buoyant and push on in the medium to longer term. However, the short-term outlook is more difficult to predict.
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