Investors.com – William Poole: Fed Monetary Policy Can’t Solve Our Economic Ills The final meeting of the year for the Federal Reserve’s Open Market Committee will ideally result in the Fed finding a way out of its asset purchase, or Quantitative Easing (QE), program. It’s also time for the Fed to acknowledge that the slow… Continue reading The Case To Drop QE
The Wall Street Journal – Jon Hilsenrath: Meltdown Averted, Bernanke Struggled to Stoke Growth After a financial crisis he didn’t see coming, Ben Bernanke steered the U.S. away from a potentially devastating panic. Yet five years later, the recovery he helped engineer with extraordinary policies remains frustratingly weak. As Mr. Bernanke prepares for his final… Continue reading Bernanke’s Legacy
Globe And Mail – World markets cautious as focus shifts to Fed’s ‘close call’ The Labor Department reported Tuesday that its consumer price index was unchanged in November from October, and that the annual rate was 1.2 per cent – only a little more than half the Fed’s target. Fed officials are openly concerned about… Continue reading Inflation And The Fed Taper
CNBC – What the Fed meeting could mean for the dollar The outcome of Wednesday’s Federal Reserve meeting is expected to set the tone for trade in the U.S. dollar heading into 2014, whatever decision is reached on the highly-anticipated tapering of monetary stimulus. Contrary to expectations, the dollar has not seen a broad-based surge… Continue reading What The Federal Reserve Decision Means For The Dollar
New York Review – The Financial Crisis: Why Have No High-Level Executives Been Prosecuted? Five years have passed since the onset of what is sometimes called the Great Recession. While the economy has slowly improved, there are still millions of Americans leading lives of quiet desperation: without jobs, without resources, without hope. Who was to… Continue reading How Executives Got Away From Prosecution Regarding The Financial Crisis
Bloomberg.com – Fed Said to Delay Bank Leverage Cap Until Basel Completed The Federal Reserve has decided to delay imposing limits on leverage at eight of the biggest U.S. financial institutions until a global agreement is completed, according to two people briefed on the discussions. Fed officials want to wait for a finished rule from… Continue reading Bank Leverage Cap Delayed
MarketWatch.com – Mark Hubert: What if 2014 is an ‘average’ year? Opinion: Wall Street is almost always too optimistic Once we come up with estimates for 2014’s EPS and its year-end P/E, calculating the market’s return is a matter of simple math. Consider the answer upon assuming that EPS will grow by 8% and that… Continue reading A Look At 2014
Friends don’t let friends POMO and drive (h/t Zero Hedge)
The New York Times – BINYAMIN APPELBAUM: Many Detect Shift by Fed on Program to Buy Bonds The beginning of the end probably will not come on Wednesday, but it is coming soon. The Federal Reserve has made clear that its bond-buying campaign will not continue at the present pace for much longer. Almost from… Continue reading The Fed Meets Today, Decides Tomorrow
Comment In the video above, Bloomberg economics editor Michael McKee explains how the expiration of emergency jobs benefits could impact Fed policy. McKee says 1.2 million people’s emergency benefits will expire under the current budget agreement. By law, anyone currently receiving these benefits must be actively searching for employment. That means these people are counted… Continue reading Could The Fed Threshold Of 6.5% Hit Next Month?
Comment Jim Bianco and Charles Biderman discussed the stock market in part 2 (of 3 parts) above. To view the interview click on the image above. To view any of our recent interviews click here. To view part 1, click here.
<Click on chart for larger image> The Financial Times – US oil production to test record high in 2016 US crude oil production will come close to its record highs in just three years time as the shale boom sends output soaring, according to the government’s Energy Information Administration. The forecast marks a spectacular reversal… Continue reading US Crude Production