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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: zonder who wrote (17042)	11/29/2004 8:44:07 AM
From: mishedlo	Read Replies (1) of 116555

ECB´S Trichet calls on US to reduce budget deficit Monday, November 29, 2004 10:48:07 AM afxpress.com ECB'S Trichet calls on US to reduce budget deficit FRANKFURT (AFX) - European Central Bank president Jean-Claude Trichet has called on the US to reduce its budget deficit, saying this will help facilitate a "gradual and smooth correction" of the ballooning US current account deficit "As regards the large and growing US current account deficit, I believe that a gradual and smooth correction of this deficit would be facilitated considerably by an increase in the savings rate in the US economy, implying both a reduction in public dissavings (deficits) and an increase in personal savings," Trichet said in a letter to a member of the European Parliament's Monetary and Economic Affairs Committee

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