The following article was published 6 August, in the Wall Street Journal, signed by ex-Fed chiefs Paul Volcker, Alan Greenspan, Ben Bernanke and Janet Yellen. Basically, it states that the US economy functions best when the central bank is free of short-term political pressures.
European policymakers grappling with problems in Greece, Portugal, Ireland and Spain should follow the path set by the Uruguayan government a decade ago, dealmaker William Rhodes told CNBC on Thursday.
World stock markets plunge Friday and the Euro hit an 18-month low against the dollar, on growing fears that the austerity packages unveiled across Europe could tip the continent back into recession and stifle global economic recovery.
Former Federal Reserve chairman and advisor of the Obama administration is concerned that the Euro area may break up after the Greek fiscal crisis that sparked an unprecedented bailout by the region’s members.