President of the Peterson Institute Adam Posen says Britain’s austerity wasn’t good for its economy and wouldn’t be good in the U.S. He tells WSJ’s Simon Constable at the World Economic Forum there is a bright future ahead for the U.S. economy. Photo: Getty Images
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UC Berkeley Professor Laura Tyson at the World Economic Forum in Davos, Switzerland says the economic outlook for the U.S. is looking up. But it still may take years to claw back all the jobs needed to get back to pre-crisis levels. Photo: Getty Images
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Japan’s Prime Minister Shinzo Abe published an editorial last night on the World Economic Forum stating that he sees Japan on the precipice of strong wage gains after more than a decade of stagnation. The PM feels strongly about this positive development in Japan after recent meetings with government business and labor leaders. Moreover he feels that the 5-trillion-yen fiscal-stimulus plan should far outweigh the negative effects of the planned sales-tax increases in Japan. Also overnight we heard comments from IMF Managing Director Christine Lagarde. She stated that the Fund intends to upgrade its outlook for global economic growth in the next 3 weeks.
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Barry Ritholtz, chief investment officer for Ritholtz Wealth Management, tells Wonkblog’s Ezra Klein “We’ve set up an economy that demands very highly-educated, sophisticated laborers.” He adds that until those who are less-educated recognize that dynamic or the country does something to change the status quo, the demand is likely to continue or widen.
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An inside look at the Fed’s experience over the last five months shows how hard it is for a central bank to communicate about plans that are complicated, conditional and evolving. Jon Hilsenrath discusses. Photo: Getty.
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Has Wall Street lost trust in the Federal Reserve following the Fed’s unexpected move to maintain its $85 billion per year bond-buying program? WSJ’s Jon Hilsenrath joins the News Hub to discuss. Photo: AP
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