Committee to Save World Is a No-Show, Pushing Economy to Brink

Committee to Save World Is a No-Show, Pushing Economy to Brink

As officials scramble to limit the mounting economic damage of the coronavirus still infecting thousands worldwide every day, financial markets tumbling in ways not seen in decades have put the spotlight on central banks' low ammunition and politicians focused on their domestic politics rather than a global response.. After Trump addressed the nation Wednesday and announced new strictures on transatlantic travel, markets crashed worldwide Thursday.. What we can do with monetary measures is getting very limited, so we should take fiscal action," Aso told parliament on Monday. ". After privately urging European governments to take more urgent fiscal action, Christine Lagarde, the European Central Bank president, took her concerns public on Thursday as she announced a new package of monetary measures and added that the real need lay elsewhere.. In an interview with Bloomberg the same day, Larry Kudlow, Trump's top economic adviser, dismissed the need for fiscal action and insisted the U.S. economy was "sound.". France's Le Maire had been in Berlin the day before the March 3 call pressing the case for fiscal action by Germany and on the line he and Carney called for "massive action" in what appeared to be a clear push for