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So the question isn't whether the Chinese economy will change, but how. The optimistic view is that Chinese leaders will slow their investment and credit boom, and at the same time make a transition to a consumer-led economy that doesn't depend so much on exports.
The United States is likely to average 95,000 more jobs each month this year, while personal savings will remain high as credit remains tight, according to a White House report released Thursday.
Bernanke detailed the Fed's strategy to tighten credit, indicating the rate paid to banks on excess reserves may for a time replace the fed funds rate as the main policy tool.