Exact(3)
David Cameron is trying to sell people something without revealing that his plans mean cuts to tax credits, cuts to Child Trust Funds, cuts to schools, cuts for manufacturing, and cuts to the police.
"Rate cuts, federal funds cuts, are not going to be enough," at a time when banks are reluctant to lend to one another, Mr. Genberg said, adding that considerable academic research suggests that the United States must find a way to restore the capital bases of its banks.
A while back Goldman estimated that if it weren't for the lower bound, the current Fed funds rate would be minus 5 percent, and that to achieve the same effect as a further 5 points of Fed funds cuts the Fed would have to expand its balance sheet to $10 trillion; I wouldn't stake my life on those estimates, but they seem in the right ballpark.
Similar(57)
In the same period, the funds cut their exposure to Italian and Spanish banks by 97 percent.
That business has softened in recent years as Wall Street and hedge funds cut back.
The funds cut-off was automatic, not discretionary.
Funding cuts, he said, must be reversed.
It was closed due to funding cuts.
The International Monetary Fund cuts its global growth forecast.
Facilities are being closed because of funding cuts.
One respondent said: "We have been decimated by funding cuts.
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