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. Last Updated: 07/27/2016

Fed Still the Boss




LONDON -- The U.S. Federal Reserve will remain the world's top central bank firefighter during times of crisis despite the emergence of the powerful euro zone, economists said in a survey Thursday.


The European Central Bank will not be as influential as its U.S. counterpart in global financial emergencies at least for the next five to 10 years, if ever, more than half of the 47 economists who took part in the survey said.


Asked whether they believed the ECB could be as effective as the Federal Reserve in reacting to international financial crises, 24 replied "no," five said "possibly over time" while 18 said "yes." Five other economists gave no specific response.