Feb. 4 (Bloomberg) -- Central bankers Ben S. Bernanke, Mervyn King and Jean-Claude Trichet need all the help they can get to fend off a global recession and restore confidence to financial markets.
Government officials from the world's wealthiest nations meet in Tokyo this week under pressure to devise responses that go beyond monetary policy amid mounting evidence, six months after credit markets seized up, that
central banks can't solve the world's economic woes by themselves.
...
Break With Tradition More fiscal easing in the U.S. may be necessary, and other governments should follow suit, Dominique Strauss-Kahn,
managing director of the International Monetary Fund, told the World Economic Forum in Davos, Switzerland, Jan. 26, in a break with the fund's traditional push for smaller budgets.
Such a shift at the IMF is "mildly historic" and "an indication of the gravity of the situation we face," says former U.S. Treasury Secretary Lawrence Summers.
"We hate the idea of extensive government intervention, but it's going to have to come," Connolly says.
"The crisis is real and huge." Bloomberg