FEDERAL RESERVE CHAIRMAN BEN BERNANKE

To: The Right Honorable Federal Reserve Chairman Ben Bernanke

From: Athinarayanan Sanjeevraja

RE: Restructuring the American economy

Suggestion: Encouraging domestic investment

Good Morning Chairman. In my opinion, structural economic problems can not be fixed by monetary policies especially QEs. QE can temporarily ease but growth will not return until sound economic structure is put in place. You argued that White House need to address the medium term fiscal mess while leaving room to cushion the economy now. In my opinion both fiscal and monetary policies are at the end of the rope.

American economy needs more debt fueled consumer spending which creates economic activity as well as jobs. It would require major restructuring of the American economy. I think that domestic investment which could help to stimulate aggregate demand, reduce unemployment and improve the overall economic outlook. If US consumers buy a product which made outside the US, it doesn’t encourage domestic investment. If US firms shipping productions or services to overseas, it doesn’t encourage domestic investments. I wrote to Barack Obama administration same concept in the month of January 2010. US government failed to execute the same.

I hope that US governments must be made accountable as hard as that would be to do for a country and bring back economy on track.

Sincerely,

Athinarayanan Sanjeevraja.

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