Bloomberg – Stephen Roach, professor at Yale University, talks about the outlook for U.S. lawmakers to reach an agreement to avert the so-called fiscal cliff of tax increases and spending cuts. Roach also discusses the economies of the U.S. and China and Federal Reserve monetary policy. He speaks with Betty Liu on Bloomberg<\/p>\n
Chairman Ben S. Bernanke\u2019s efforts to energize the U.S. economy since 2008 have been credited with rousing the housing market from a six-year funk, lowering the jobless rate and putting more money in the pockets of both mortgage lenders and borrowers. Photographer: Paul J. Richards\/AFP via Getty Images
\nThe near-zero interest rate the Federal Reserve charges financial firms, as well as securities purchases that will balloon the central bank\u2019s balance sheet to almost $4 trillion next year, have made it easier for Narula\u2019s $1.6 billion fund to thrive and more difficult for Sanchez, a former college library director, to enjoy retirement.<\/p>\n