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Business Daily: The Exit Door

23/02/2010

The Exit Door

BBC World Service - Business Daily, The Exit Door

How can America make its exit from economic stimulus without derailing the recovery?

How can America exit from economic stimulus without derailing the recovery? Former Governor of the US Federal Reserve, Randall Kroszner talks to Lesley Curwen about the Fed's strategy.

The world is still awash with economic stimulus money, even though most economies are now out of recession. The question is how to exit gracefully from the stimulus, without threatening the recovery. 

The world will be hoping for clues on how the Number One economy will manage this, when Ben Bernanke, Chairman of the US Federal Reserve gives testimony in Congress this week. Some commentators suggest America took its first big step towards the exit door, when the Fed raised the discount rate last week, which is used for emergency lending to banks.   

Lesley Curwen talks to Randall Kroszner, former Governor of the Federal Reserve during the period of the crash. He left the job in January 2009, and is now Norman R. Bobins Professor of Economics at Chicago University. 

Plus, Professor Nandani Lynton of the China Europe International Business School explains the difference between business leadership styles in China and the West.

And the BBC's Guy Delauney reports from Cambodia on how people juggle expertly with a clutch of mobile phones and SIM cards.

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