Market’s latest rumbling seen speeding U.S. fiscal stimulus package
As traders and investors digested the affect of the market’s latest sell-off on both assets and investor psychology, Tuesday’s jolt is likely to speed the passage of a U.S. fiscal stimulus package to boost the ailing U.S. economy, economists and analysts said Tuesday.
President Bush and U.S. Congressional leaders from both parties are expected to discuss that afternoon that fiscal plan, which should aide place $140-160 billion into the econmy, Bloomberg News reported Tuesday.
Fiscal stimulus: sooner the better
Independent currency trader Andrew Resnick, said whether Tuesday’s market jolt prompts President Bush and lawmakers to agree on a package of tax cuts/rebates and spending increases, soon after the market’s latest gyrations “will turn out to be a blessing in disguise.”
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Original post by Joseph Lazzaro
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