How to play the rescue
How to play the rescue
- December 5, 2011
- Gary Richardson, economics professor, is quoted in the Wall Street Journal and Yahoo! Singapore Finance December 3, 2011
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From the WSJ:
A little coordination can go a long way. After the Federal Reserve and five other
central banks on Wednesday announced a joint effort to support the global financial
system, stock markets around the world zoomed. The Dow Jones Industrial Average jumped
4.2 percent, its largest one-day spike since March 2009.... Even though the central
bank intervention has eased short-term concerns, the European common currency's long-term
picture remains cloudy, says Gary Richardson, an economics professor at the University
of California, Irvine. "Central banks around the world don't have many arrows left
in the quiver," he says. "It looks like they hit the bull's-eye for now, but what
happens if that optimism fades?"
For the full story, please visit http://online.wsj.com/article/SB1000142405297020439770457707412128262988....
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