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Weakening dollar is last hope for world economy, Saxo Bank analyst says
By Elliot Smith
CNBC, New York
Thursday, October 3, 2019
Weakening the dollar is the last throw of the dice in rescuing the global economy, according to Saxo Bank's Steen Jakobsen.
In the online trading and investment specialist’s outlook report for the fourth quarter, published today, Jakobsen said 2019 will most likely be remembered as the year that kickstarted a global recession, despite the lowest ever nominal and real interest rates.
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"Monetary policy has reached the end of a very long road and has proven a failure," Jakobsen, who is the chief economist and CIO at Saxo Bank, added. ...
"In a global system of failed monetary policies and a long and difficult path to fiscal policy, there is only one other tool left in the box for the global economy and that is lower the price of global money itself: the U.S. dollar," Jakobsen said. ...
... For the remainder of the report:
https://www.cnbc.com/2019/10/03/saxo-weakening-the-dollar-is-the-last-ho...
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