Agonising wait for US economy to rebalance

There are no prospects that US unemployment will start to fall visibly in the near future. Almost all growth forecasts for next year, even by international institutions, come in well below 2.8 per cent, which the Fed says is necessary to keep employment stable. SMU adjunct faculty Joergen Oerstroem Moeller writes that there are limited alternatives for international reserve currency as US policy depreciates the dollar.