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Crisis puts policy makers 'between a rock and a hard place'
By Rex Nutting, MarketWatch
Last update: 9:27 a.m. EDT Oct. 8, 2008
Comments: 2
WASHINGTON (MarketWatch) -- The world economy has entered a "major downturn" with significant risks of worsening, the International Monetary Fund said Wednesday in its annual World Economic Outlook.
"After years of strong growth, the world economy is decelerating quickly," the report said. "Global activity is being buffeted by an extraordinary financial shock and by still-high energy and other commodity prices."
The financial shock has put monetary-policy makers "between a rock and a hard place," the IMF said, needing to work on two fronts: stabilizing the financial sector and using monetary and fiscal policies to support growth.
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