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Interest rate cuts and fiscal boosts are right.
But he endorsed Mr Brown's plea for other countries to give co-ordinated fiscal boosts, and for financial regulation to be revamped.
The evidence is overwhelming that fiscal boosts work in highly depressed economic environments, which is why Dominique Strauss-Kahn, managing director of the IMF, urges them.
To avoid a Great Depression scenario it has called on governments to organise timely and temporary fiscal boosts equivalent to 2% of GDP, together with aggressive monetary policy and actions to stabilise the banking system.
This allowed his Labor successor, Kevin Rudd, to provide two big fiscal boosts when crisis struck, putting the equivalent of nearly 3% of GDP into the economy in 2009.
Similar(55)
The first, and most argued-over, was a big fiscal boost.
Wall Street is expecting a fiscal boost in the order of 1.5-1.75 1.5-1.75%
There is some suggestion that there is little room for a fiscal boost to the economy.
Despite a monetary and fiscal boost unprecedented in peacetime, there is no recovery to speak of.
The fiscal boost of 2009-10 will give way to austerity in 2011 and weak growth.To watch: Wicker men.
America has enjoyed an enormous monetary stimulus in the past few years (and a giant fiscal boost too).
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