A Year of Divergence
Mohamed A. El-Erian
DEC 8, 2014
LAGUNA BEACH – In the coming year, “divergence” will be a major global economic theme, applying to economic trends, policies, and performance. As the year progresses, these divergences will become increasingly difficult to reconcile, leaving policymakers with a choice: overcome the obstacles that have so far impeded effective action, or risk allowing their economies to be destabilized.
The Bank of Japan will maintain its pedal-to-the-metal approach to monetary stimulus.
Read more at http://www.project-syndicate.org/commentary/economic-monetary-policy-divergence-2015-by-mohamed-a--el-erian-2014-12#BGUReFq8Z6weR4cJ.99