Different economic strokes

Do U.S. and European economic policy makers live on the same planet? Asks Jean Pisani Ferry. In the last few weeks, amid turbulence in markets and the economy, the U.S. Federal Reserve lowered interest rates by 125 basis points and Congress agreed on a $168 billion fiscal package. But at the same time, the European Central Bank left interest rates unchanged. European governments showed no appetite for reflation and the European Commission continues its call to reduce deficits.

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This comment was published by the Wall Street Journal.