links for 2009-12-04

China has maintained a consistent allocation of its foreign exchange reserves across different currencies, a senior official said on Friday, suggesting that any diversification away from the dollar has been gradual.

Federal Reserve Bank of St. Louis President James Bullard suggested Thursday conventional wisdom on monetary policy's response to high unemployment rates may need revision.

"While I believe that government has a critical role in creating the conditions for economic growth, ultimately, true economic recovery is only going to come from the private sector. We don't have enough public dollars to fill the hole of private dollars that was created as a consequence of the crisis."