New chair of the Council of Economic Advisers, Austan Goolsbee says
- The US will avoid a double dip recession and resume steady growth
- Tightening fiscal policy too soon would spook markets
- US must weigh steps to tackle medium and long-term budget issues
- Obama is committed to following through on the recommendations of the deficit reduction panel
EUR/USD is consolidating just below 1.3390 after bouncing off 1.3350. The market is shrugging off euro-negative comments from the German finance minister, concluding they are merely trying to derail the euro rally.
