- US Federal Reserve chairman said:
- United States is slowly recovering from its financial crises, but unemployment is still an issue. Emerging markets perform better when the U.S itself is growing, as is evident by the improvement seen in Japan and Europe.
- US tried its best to salvage Lehmann Brothers, but no buyer could be found.
- China is experiencing a transition and the leadership is encouraging domestic demand and consumption, while also liberalizing a part of its financial sector. And despite it having refused purchase of of U.S. treasury bonds, the dollar is still an attractive currency.
- Gold and oil are volatile products, and with oil being sensitive to geo-political risks, its difficult to predict their future.
- Fracking technology being used for the extraction of shale oil in the US will lead to it becoming self-sufficient in oil.
- Read at: http://www.thehindu.com/todays-paper/tp-business/moderate-to-strong-recovery-in-the-us-says-bernanke/article5916907.ece
Exams Perspective:
- Fracking technology
- Economic Recovery of Developed Countries
- Unemployment
- Types of unemployment
- Shale gas
- Demand
- Supply