Where does the buck stop?

摘要

BY LIFTING interest rates by a quarter-point this,week,America's Federal Reserve brought its key interest rate exactly in line with that in the euro area,at 2%.Unfortunately,there are few signs of any other convergence between the American and European economies.As America booms,growth in the euro area remains disappointing.It is hardly surprising that European policy makers are starting to fret about the latest rise in the euro,which hit a new life-time high of US1.30 this week against a weakening dollar.