Dr. Mukhoti, a veteran American economist and Professor of Economics at Rowan University in New Jersey explained the reasons behind the current US economic situation in this interview.
She said the end of housing market bubble, aggressive loans in sub-prime rate to less qualified buyers, rise of crude oil price and the economic impact of wars in Iraq and Afghanistan have contributed to the economic crisis in America. Dr. Mukhoti thinks that the Federal Reserve Bank has taken timely, adequate and bold steps to bring the economic engine back on track.
Dr. Mukhoti thinks that if the Democratic party wins the White House in the next election, more bold steps are expected in the economic field. But if the Republican party wins Oval Office, the crisis may linger for a longer period