Fed helping ease crisis, not fiscal policy: survey

Financial Crisis Posted on

Emergency action by the Federal Reserve to ease the credit crisis has been appropriate but the fiscal policy measures may not be much help, according to a survey of business economists released on Monday.

Asked about the dollar, most of the economists in the National Association for Business Economics (NABE) semi-annual poll thought the U.S. currency was currently too strong for either the short-term or long-run good of the economy.

"There appears to be a growing consensus that monetary policy is at least heading in the right direction," said association President Chris Varvares.

"But we see a cautious assessment as to how much of an impact it is having on credit flows and economic activity. If anything, our respondents appear to be even less convinced of the near-term effectiveness of fiscal policy in turning the economy around," Varvares said in a statement.

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