Israel Raises Interest Rates

[fab]

Israel takes another direction from the rest of the world:

Israel's Fischer Wins Kudos for Central Bank Role Amid Crisis

BY JOSHUA MITNICK

TEL AVIV--Bank of Israel Gov. Stanley Fischer stepped into the global spotlight late last month when he raised interest rates, the first major central bank chief to do so amid the global economic downturn.

Here at home, economists have been applauding the former International Monetary Fund and Citigroup Inc. executive for months, crediting him with adroitly steering the Jewish state's export-driven economy into what now looks like an early rebound.

After slowing to a near-standstill this year, Israel's economy is forecast to grow 3.3% next year, according to HSBC economists. In a recent report, the bank said Israel has shown ...
http://online.wsj.com/article/SB125250103815895491.html

[Seraphim]

After slowing to a near-standstill this year, Israel's economy is forecast to grow 3.3% next year

*wipes sweat from brow*

They were about to raise US taxes I bet...

[Donald Aquilano]

I'm not surprised that Israel has figured out what needs to be done before we have.

[fab]

I'm not surprised that Israel has figured out what needs to be done before we have.

BD, you know that Stanley Fischer, came from the US. If you want to solve US economic problems, try listening to Milton Friedman. Loads of vids on Google and YouTube, very informative.