United States:2008 Article IV Consultation: Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

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Volume/Issue: Volume 2008 Issue 255
Publication date: July 2008
ISBN: 9781451839715
$20.00
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Inflation , Economics- Macroeconomics , Money and Monetary Policy , International - Economics , mortgage prepayment risk , headline inflation , government-sponsored enterprises , stimulus package , housing GSE , equity capital , lending standard , Housing prices , Housing , Mortgages , Loans , Inflation , Global , Africa

Also of interest
Republic of Congo : 2001 Article IV
Peru
Spain
Malawi
Summary

This 2008 Article IV Consultation highlights that problems in the housing and financial markets over the past year have combined to slow the United States’ economy substantially. As the residential investment downturn accelerated and national indices of housing prices started falling, mortgage defaults rose sharply, and bank losses mounted. Policymakers have responded aggressively to these developments. IMF staff analysis suggests that the dollar is closer to its medium-term equilibrium level, although still on the strong side.

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