Reflationary efforts will gradually unfreeze the credit markets

September 30th, 2008|by Michael Ashley Schulman, Perspectives, The Big Picture|

Reflationary efforts will gradually unfreeze the credit markets. Nevertheless, the need to unwind this decade’s credit excesses means that the economy will continue to face major headwinds to growth; financial conditions will remain fragile for some time. The longer the credit markets remain frozen, the deeper and wider the spread of economic contagion and the […]