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

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To: russwinter who wrote (17516)	12/3/2004 11:04:17 AM
From: mishedlo	Read Replies (1) of 116555

Fed´s Santomero sees sizable U.S. trade gap persisting Friday, December 3, 2004 3:00:37 PM afxpress.com Fed's Santomero sees sizable U.S. trade gap persisting PHILADELPHIA (AFX) -- The large U.S. trade deficit will persist in 2005 without narrowing or widening, said Anthony Santomero, the president of the Philadelphia Federal Reserve bank. "The recent declines in the value of the dollar, combined with reasonable growth in the economies of our trading partners, should help stabilize our net export position," Santomero said in opening remarks to a conference on globalization at the bank. But the relative strength of the U.S. economy is unlikely to diminish, Santomero said. "Hence we are likely to see sizable U.S. trade deficits for some time," he added

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