Six central banks around the world cut interest rates yesterday, but markets did not respond. The International Monetary Fund (IMF) predicted a continued slowdown for the global economy and a likely recession in the U.S.
Mohannad Aama, the managing director of Beam Capital Management, speaks with Martin Savidge about the outlook for the global economy and the fear-induced selling witnessed around the world.
Governments are finding creative ways of dealing with the crisis, going beyond interest rate manipulation to semi-nationalize industries and invest in banks. Aama explains that recessions are healthy, and that it is only a matter of time before countries come out of this one.
Get the Flash Player to see the wordTube Media Player.
