Congress and the White House may throw a curveball and roll out a tax cut ahead of the midterm elections rather than boost stimulus spending to aid the struggling economy, Harvard University History and Business Professor Niall Ferguson told CNBC.
“Medium-term fiscal credibility is the issue, not short-term,” he said. “Paul Volcker should get together with the Republican Paul Ryan and work out a credible plan. Unfortunately there is no appetite for radical reform.”
Source: CNBC, September 3, 2010.
