The G-20 summit in St. Petersburg, Russia, ended Sept. 6 with the conclusion that it is premature to declare that the global economic crisis has ended, despite signs of improvement.
During the two-day event, the G-20 leaders are believed to have covered a wide range of issues, including the impact the U.S. Federal Reserve's exit strategy for quantitative easing may have on the world, particularly emerging economies, the fiscal deficits of each G-20 member, and potential responses to the alleged use of chemical weapons in Syria. The gap between the United States and Russia over the Syria issue was reminiscent of their Cold War confrontation.
However, the leaders' declaration only repeated what the G-20 finance ministers and central bank chiefs said back in July — that central banks need to carefully adjust future changes in monetary policy while paying close attention to the risks and unintended side-effects of protracted monetary easing.