The U.S. Administration will seek today to regain the economic policy initiative. Think of it as an overdue attempt by officials to be seen to be more engaged, and to influence a narrative that has slipped away at a time of unacceptably high unemployment, muted growth and deficit concerns.
According to public schedules, President Obama’s speech in Cleveland today is to be followed by several media appearances by Treasury Secretary Tim Geithner and White House Senior Advisor Austan Goolsbee.
All of this will be closely watched by markets and will likely impact equity and bond valuations around the world.
So, what would constitute success for such an important high-profile effort?
I would suggest three key considerations...