At Fed conference, Trumponomics draws a not so subtle rebuttal
President Donald Trump's name was rarely mentioned as top central bankers and economists spent Friday mulling the fate of the global economy at a mountain lodge here.
Read more at http://www.channelnewsasia.com/news/business/at-fed-conference--trumponomics-draws-a-not-so-subtle-rebuttal-9159666 (Updated:)
but they are concerned that new waves of protectionism or reckless deregulation could threaten an economic system that is currently stable and that has returned to growth across the world. ---
The right policies that have made the World return to growth - where now Trump threaten to dismantle and meddle with it.
--- Trump's seemingly singular focus on trade agreements won't fix the problem of workers losing jobs.
Policy, the economists here said, should be aimed at improving job skills, local capital investment and safety net programs for displaced workers, ----
The economists are right and Trump is wrong.
Trump's unproven ideas to fix the problem due to wrong diagnostics will not only get US into trouble, but will have domino effects of pulling down the Global Economy.
It was a day when the president's calls for financial deregulation and "America First" economic nationalism were countered by Yellen's reminder of how a deep financial crisis wrecked the economy a decade ago, and economic research arguing that China and Mexico are less to blame for job losses than forces like technology. ---
It took more than 10 years to put in financial regulations to fix the sub-prime crisis in US that cause a global meltdown, run on banks and US have to use taxpayers money to save the banks. Now US Economy is humming smoothly and the Global Economy is running smoothly.
Is Trump going to mess everything up again by dismantling the financial regulations that serve the Economy well?
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