Avoid dollar trappings to escape its trap

19/06/2009 § Leave a comment

 

Given its loose monetary policy, it is not surprising to see U.S. government debt ballooning from about 500 billion dollars to more than 2 trillion dollars in just six months, from September 2008 to May 2009.

    The U.S. debt is set to mount further because the Fed announced in March that it would continue to "buy" out America’s financial problems, starting with 300 billion dollars worth of Treasury bonds by September. It will follow it up by buying 200 billion dollars in bonds and $1.25 trillion in mortgage-backed securities issued by Fannie Mae and Freddie Mac by the end of this year.

Avoid dollar trappings to escape its trap_English_Xinhua

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