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An America drowning in red ink is the land of the free no more
Topic - Paul Mcculley
As entrepreneurs who had parlayed a local cleaning business in Wyoming and Utah into a multimillion-dollar enterprise with holdings in hotels, ranches, auto dealerships, sports teams and more, Justin and Cody Hyde knew that meeting the right people and developing good relationships — even with adversarial regulators — was part of the solution for businessmen like themselves.
While the U.S. economy is healthy enough for the Federal Reserve to consider ending the extraordinary cash infusions it has pumped into world markets since 2008, such a change of course would pose big challenges for Europe's debt-strapped economies and for many of the world's developing countries.
Thanks to the Fed's extraordinary ministrations, the U.S. economy has achieved "escape velocity" with solid job growth this year and is ready to be taken out of intensive care and recover on its own, said Paul McCulley, chairman of the Global Interdependence Center's Global Society of Fellows, an economic group affiliated with the Philadelphia Federal Reserve Bank that held its annual economic conference last week.