Newspaper article from our research archive:
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Stiglitz: Bail out from bottom.
- Article from:
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New Zealand Herald (Auckland, New Zealand)
- Article date:
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March 19, 2008
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Copyright informationCOPYRIGHT 2008 Independent News & Media PLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The United States financial crisis will get much more serious, the Federal Reserve has little ammunition left and the kind of measures that would help are unlikely to appeal to the Bush Administration, says economist Joseph Stiglitz.
Stiglitz, who won the Nobel prize in economics in 2001, is a former chief of the Word Bank and chaired President Bill Clinton's council of economic advisers.
He was in Auckland yesterday to deliver a seminar at the University of Auckland Business School.
The financial markets have been calling for the Federal Reserve to slash the Fed funds rate by another 100 basis points overnight to 2 per cent. The bank has also in the past week ...
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