Mises.org – Bernanke: A Tenure of Failure Summers may actually be even more problematic. He is an architect of the failed stimulus of 2009 and a revolving door player between Wall Street and government that would only add to the image of the Fed as a financial central planner and most likely continue the evolution… Continue reading Was Bernanke A Failure?
The Wall Street Journal – Regulators Rethink Complex Rules for Banks In the wake of the financial crisis, global financial regulators implemented a labyrinth of new rules to constrain banks. Now, regulators are beginning to rethink their approach. Regulators in the U.S. and Europe are starting to conclude the way they currently measure banks’ exposure… Continue reading Bank Regulation
Bloomberg Businessweek – Manufacturing Surge Points to U.S. Growth Rebound: Economy The Institute for Supply Management’s factory index jumped to 55.4, exceeding the highest projection in a Bloomberg survey of economists, from 50.9 in the prior month, according to the Tempe, Arizona-based group. Readings above 50 indicate expansion. A separate report showed first-time claims for… Continue reading Manufacturing In The U.S.
The Telegraph (UK) – Top Fed economist slams ‘incoherent’ ECB In a rare breach of central bank etiquette, a paper by the Richmond Fed said the ECB is hamstrung by institutional problems and acts on the mistaken premise that excess debt is the cause of the eurozone crisis when the real cause is the collapse… Continue reading The Federal Reserve vs The ECB
<Click on chart for larger image> MarketWatch.com – There’s too much complacency in the market Commentary: Stocks at record highs, but investors are still bullish Investors Intelligence recently reported that 52% of the newsletter writers it polls were bullish and less than 20% were bearish. That was the highest percentage of bulls and the lowest… Continue reading Bullish On The Markets
The Wall Street Journal – Low Wages Work Against Jobs Optimism There is no doubt that the $7.25 an hour paid by the likes of McDonald’s Corp. MCD +0.94% doesn’t go very far these days, even outside the Big Apple. But at least such low-paying service jobs are plentiful. That combination takes some of the… Continue reading Low Wages
The Wall Street Journal – Jon Hilsenrath: Fed Leaves Bond Buys in Place, Moderates Description of Economy The Federal Reserve said it would continue its $85 billion-a-month bond-buying program and offered no substantive changes in its stance on how long the purchases will continue…Fed Chairman Ben Bernanke signaled after the Fed’s June policy meeting that… Continue reading To Taper Or Not To Taper, That Is The Question
<Click on chart for larger image> The Treasury – August 2013 Quarterly Refunding Statement of Assistant Secretary Rutherford The U.S. Department of the Treasury is offering $72 billion of Treasury securities to refund approximately $69.6 billion of Treasury notes maturing on August 15, 2013. This will raise approximately $2.4 billion of new cash…Given improvements in… Continue reading The Treasury’s Quarterly Refunding Statement
[pageview url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=143″] The Wall Street Journal – Tepid Growth Restrains Fed The U.S. economy registered subpar growth and low inflation in the first half of the year, factors that led the Federal Reserve Wednesday to keep its easy-money policies in place…The overall view is of an economy moving in the right direction, yet mired in… Continue reading The FOMC Statement
The Wall Street Journal – Obama Defends Summers in Meetings With Lawmakers President Barack Obama on Wednesday tried to beat back criticism of one of his former top economic advisers, Lawrence Summers, from congressional Democrats who don’t want to see him get the top job at the Federal Reserve. In separate closed-door meetings with House… Continue reading Finding Bernanke’s Replacement
Real Time Economics (WSJ Blog) – GDP Revisions Make Recovery Look Better, Recession Not as Bad The U.S. economy expanded at a stronger pace in 2012 than previously measured and the great recession was less severe, new data from the Commerce Department shows. The country’s gross domestic product, the broadest measure of goods and services… Continue reading A Closer Look At The GDP Revisions