One aspect of the Bush administration I have been disappointed with is the real lack momentum/leadership the United States Treasury has been able to produce. The Federal Reserve could be more aggressive with cutting the Federal Funds Rate if we had a Treasury that would instill some confidence in the dollar & markets.
The continued weakness in the Dollar means the Federal Reserve has had to play both sides of the fence and has not been able to react as quickly or forcefully as I would like. The chances of a Recession are certainly there; though, I am still not convinced. However, I think we will look back at this particular period of time if we do slip into a recession, and significant blame can be placed on the United States Treasury Department.
