european debt crisis

Simone Baribeau

The Bank of Japan reiterated this morning that the country’s economy was beginning to “recover moderately, induced by improvement in overseas economic conditions.”

Changes in Japan's real GDP, compared to other recessions. I added in the red line – an approximate update from the GDP figures released last week.

 

Simone Baribeau

The Federal Reserve – which, in recent years, has not been the first to recognise the warning signs of a crisis – is, by central bank standards, expressing considerable concern about the potential effect of the European debt crisis in the US.

Daniel Tarullo, Federal Reserve governor, outlined the worst case scenario to a House subcommittee this afternoon.