This ability has presumably enlarged the capability of the United States relative to most of our trading partners to incur foreign debt. Besides experiences with the current account deficits of other countries, there are few useful guideposts of how high our country's net foreign liabilities can mount.
The monetary policy measures that we have taken since early March are providing crucial support to underpin the recovery of the euro area economy and to safeguard medium-term price stability. In particular, they support liquidity and funding conditions in the economy, help to sustain the flow of credit to households and firms, and contribute to maintaining favourable financing conditions for all sectors and jurisdictions.