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May 11th 2017, 9:31 pm
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. Continued risk aversion of investors and unwillingness to lend on the part of financial institutions could raise the probability even more and turn a slowdown into a full-blown economic rout that could spread beyond our borders. The hardest challenges now are how to minimize housing foreclosures and how to get the credit markets functioning more normally �� both without spending excessive public resources or rewarding people who made dumb or irresponsible decisions." With the caveat of the need to contain the spread of foreclosures,cheap jordans, Rivlin concluded that so far,cheap real jordans, "I think the policy response to the current economic situation is on the right track. The Fed has acted aggressively and with some imagination to keep the financial services sector liquid and ease monetary policy. The stimulus package will certainly help avoid recession or mitigate a downturn if it occurs." Will Americans spend or save? Much rides on what Americans do with the money they'll receive from the stimulus. Rivlin expressed confidence that it is targeted to people who will spend it,cheap jordans for sale, but Matthew Benjamin writes at Bloomberg.com that a Bloomberg/Los Angeles Times survey shows "most Americans plan to save rather than spend their tax rebates. ... Only 18 percent of respondents said they will spend their rebate on purchases,promdressok.com, while slightly more than three in 10 said they prefer to use the money to pay off debt,cheapjordansretrofreeshipping.com, and a third said they'll pocket it." Benjamin quotes Douglas Elmendorf of Brookings
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