No ficscal stimulus.
– $1.1 trillion
– reform of regulation of financial system (pay, bonuses, tax havens, hedge funds)
– clean up toxic assets
– boost growth, but no fiscal stimulus
– $750 billion to IMF for troubled economies
– $250 billion trade credit package
– $50 billion for poor countries
Link for a more detailed look.
What does it mean? We’ll know soon enough. The markets sure are happy though, and maybe they’ll stay happy this time instead of yo-yo-ing.