The US Federal Reserve is continuing with its money printing as it endeavours to increase economic growth, with the Federal Open Market Committee warning overnight that “fiscal policy is restraining economic growth”. Translated, this means politician are concerned with reducing the government budget deficit and the policy of cheap money is needed to stop growth declining again.
A measure of the brakes that the Congress has put on spending was shown by the latest update from the final budget results released by the Treasury and Office of Management and Budget.
