From American Enterprise Institute; John Makin
Key points in this Outlook:
– The US economic outlook has darkened as oil prices, equity prices, and home values have fallen during the second quarter.
– Japan, China, and Europe face similar outlooks. Japan has experienced a sharp slowdown following its earthquake and nuclear disaster; China’s efforts to curb inflation have dampened growth; and Europe is still struggling with the sovereign-debt crisis in Greece.
– With monetary and fiscal stimulus fading, the United States has no politically viable policy options left. The loss of global economic momentum spells trouble for the second half of 2011.
Read the report here.
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