Hope for the dollar?

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Douglas Roberts, senior international economist at Standard Life Investments, examines what the future holds for the US economy.

Where is the US economy going in 2011? Do the optimists or the pessimists have the better arguments? Despite a multi-billion dollar fiscal stimulus package, a car scrappage scheme, a tax incentive for first-time home-buyers, ample liquidity pumped into the financial system and near-zero interest rates, for an extended period, the US economy has so far failed to achieve lift-off into a self-sustained recovery. What the various initiatives did achieve was an unwinding of the inventory overhang induced by the recession, and a subsequent inventory rebuild. However, that has almost run its co...

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