On Wednesday we hosted a conference call titled “Easings, Europe and Earnings.” If you missed it, click on any of the following links: Handout, Audio (mp3), Webcast. The Economist – American monetary policy: Fed under fire Political attacks on America’s central bank are misguided RARELY has a central bank been lambasted so loudly by so… Continue reading Easings, Europe and Earnings
Real Time Economics (WSJ Blog) – Fed Hawks To Get A Boost On 2011 FOMC Dissenting voices at the Federal Reserve are set to get a boost in the 2011 voting rotation for the Federal Open Market Committee…Four presidents of regional Fed banks will step into the rotation at the Fed’s policy meeting in late… Continue reading A Preview Of Your 2011 FOMC, More Hawkish
The Financial Times – Gillian Tett: Goodbye moderation, hello to the ad hoc age What does the US Federal Reserve plan to do next? What new surprises are about to spring from eurozone governments? These are the questions worrying investors, amid the market turmoil in Ireland and elsewhere. However, if John Taylor, a US economist,… Continue reading John Taylor Wants Rules-Based FOMC Policy, Starting With His Rule
The Financial Times – Martin Wolf: Assets matter just as much as debt Crises have always led to intense discussion of the role of the state. The present one should be no exception. The immediate danger has not passed: just look at events in the eurozone. But the time has come to look at the… Continue reading Productive Debt vs. Non-Productive Debt
Bloomberg.com – Spain Bets on Budget Cuts to Stem Debt Contagion Spain, which has the euro region’s third-highest budget deficit, says it won’t adopt new measures to protect itself from Europe’s worsening debt crisis after cutting the central government’s budget gap by almost 50 percent and taming regional spending. Providing support is about half of… Continue reading Hmm…Where Have We Heard This Before?
<Click on chart for larger image> The Wall Street Journal – Europeans Clash on Bailout European leaders sparred over whether to commit more funds to rescue struggling euro-zone countries, as financial-market pressure on the region’s weakest economies intensified. The European Union’s executive arm, the Brussels-based EU Commission, floated a proposal on Wednesday to double the… Continue reading Eurozone Contagion
<Click on chart for larger image> The Wall Street Journal – Market Rules, Made to Be Broken Like a monetary El Niño, the Federal Reserve’s $600 billion injection of cash into the financial system is upending the ordinary rhythms that govern the stock market. This flood of money has roiled a host of market truisms,… Continue reading Is The Federal Reserve Destroying Seasonal Trends?
<Click on chart for larger image> International Business Times – Food stamps recipients swell by 15 million this Thanksgiving People collecting benefits from the Supplemental Nutrition Assistance (SNAP) program in the US rose by 15 million since the start of the recession in December 2007, says a report. With the new addition, the total number… Continue reading Food Stamps
Fox Business – Insider-Trading Probe Reinforces Belief Market is Rigged The insider-trading dragnet that has rocked Wall Street this week appears likely to reinforce the feeling that the house always wins. For average investors, a lack of trust in the markets is understandable, especially considering the latest probe comes on the heels of analyst scandals… Continue reading Insider Trading
The New York Times – Floyd Norris: Gold Fever: Pondering the Causes It is part religion, part politics. It is a way to voice a lack of confidence in the central banks of the world and a yearning for the world as it used to be. It is an investment that historically made sense when… Continue reading Gold
Comment Jim Bianco was on CNBC yesterday discussing the FOMC minutes. To view the interview click on the picture above. To view any of our recent interviews click here. The Federal Reserve – Minutes of the Federal Open Market Committee Most participants judged that a program of purchasing additional longer-term securities would put downward pressure… Continue reading The Federal Reserve And The Dollar, Who Do We Believe?