The U.S. government must structurally rework its domestic market as the Fed’s third round of quantitative easing (QE3) was a necessary and successful, but only stop-gap, measure to stimulate the economy, according to Arthur Sculley, a senior fellow at the Center for Emerging Market Enterprises at the Fletcher School. The institute, which is affiliated with Tufts University, was established in 2007 as the first professional graduate school of international relations in the U.S.
“[Such measures] ease the pain, but they don’t solve the problem,” Sculley said in a recent interview with the Korea JoongAng Daily. “They’re necessary, but by far the more important issue is structural change, which has been needed in the U.S., and in Europe in particular.”
Sculley was visiting the Korean campus of the State University of New York in Songdo, Incheon, to give a lecture.
Read the full interview