Volcker: US Economy Dependent on Government Support

Former Federal Reserve chairman Paul Volcker, keeping his name in the news, remains dour about the economy. This weekend in Germany, he opened up about the still underway crisis and how the few signs of economic life he’s witnessed are mainly the result of government intervention.

According to Bloomberg:

“…Volcker said the financial crisis was still continuing and the U.S. economy is ‘pretty dependent’ on government support. The test for policymakers now is to time the exit from their emergency fiscal and monetary stimulus, he said.

“‘You’ve not got much room for exiting right now,’ Volcker said.” (more)