Dept. of the Delayed Press: John Berry and Martin Wolf today on the Unsustainable US Current Account Deficit
Good to see that, after my blog item the other day on the US current account deficit unsustainability, where I bemoaned the press for its oversight of the Fed/FOMC concerns, the leading Fed watcher John Berry picked up today the story of the Fed discussing the US current account deficit and Martin Wolf from the FT also wrote today an important piece on the unsustainable US twin deficits (“America on the Comfortable Path to Ruin”).
Better late than never! In fairness to the always sharp and insightful Wolf, he has been concerned about the US twin deficits for a while and written about them before.
One Response to “Dept. of the Delayed Press: John Berry and Martin Wolf today on the Unsustainable US Current Account Deficit”
here’s the link to the paper wolf cites! http://www.cerf.cam.ac.uk/publications/files/USJul04.pdf also paul mcculley’s take from march is worth reading http://www.pimco.com/LeftNav/Late+Breaking+Commentary/FF/2004/ff_mar_04.htm cheers