European tax cuts to bolster growth

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The Federal Reserve confirmed that the US economy is slowing, easing monetary policy earlier and mor...

The Federal Reserve confirmed that the US economy is slowing, easing monetary policy earlier and more substantially than expected. Economic activity is also slowing in Europe, but there are big differences between it and the US. First, the European slowdown is proving more muted (we continue to expect the European economy to grow by just under 3% in 2001). Second, European consumers are in better shape than their US counterparts. Countries such as Germany, France and Italy will be implementing tax cuts in 2001, bolstering the financial wellbeing of their consumers. At the beginning of ...

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