James Glassman, senior economist at JPMorgan, said he wouldn't be surprised to see more stability in the global economy going forward. Talking about liquidity, he said, “The responsibility of central bank is to kind of proportion of to the magnitude of the slowdown that we see in the Asian and European markets.”
“The US is a different story; yes, it is slowing down but the Fed is also taking a lot much more relaxed view because it is not as worried about inflation,” he added.
He further said that the Chinese central bank action is appropriate looking at the trend of slowdown. According to him, the Chinese response to the slowdown has been a bit blunt.