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Fed Sheds No Light, Plays Charades with Media; Tiptoe Balancing Act Fed Says Little, Sheds No Light If the Fed had a clue as to what it will do in September, it likely would have said so. Instead, it reiterated the same hash we have been hearing for years. Here is the complete text of today’s FOMC Press Release
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More: Weekly Unemployment Claims Lowest in 41 Years
Charts courtesy of Curve Watchers Anonymous .
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As if there is not too much government and too many meetings already, Hollande Calls for the Creation of a Euro Zone Government . French President Francois Hollande called on Sunday for the creation of a euro zone government and for citizens to renew their faith in the European project, which has been weakened by the Greek crisis. Reviving an idea originally put forward by former European Commission chief Jacques Delors, Hollande proposed " a government of the euro zone (with) a specific budget as well as a parliament to ensure its democratic control "
Deflationary Pressures Unabated; Another One-Hit Wonder; Transitory Tales Another One-Hit Wonder In spite of counterproductive attempts by the Fed and Central Banks to foster price inflation, debt overhang has stymied those efforts, at least in regards to consumer prices and import/export prices. Last month, following a surge in gasoline prices, import and export prices did rise a bit, but as with retail sales, the import/export price report was another "one-hit wonder"