December 18, 2013
Fed Tapers $10 Billion with Cornucopia of Dovish Platitudes; You Talk Too Much!
Error Over Quota This application is temporarily over its serving quota.
Hard hitting global and local news
Hard hitting global and local news
Error Over Quota This application is temporarily over its serving quota.
Error Over Quota This application is temporarily over its serving quota. Please try again later.
See the article here: Is Selling Bonds the Taste of Things to Come?
Read More: Wal-Mart, Macy’s, Kohl’s Cut Profit Outlook; Cisco to Cut 4,000 Jobs, Blames Weak Economic Recovery
Weakest rise in service sector activity in nine months Services employment and new orders broadly stagnate Ninth successive month of higher input prices in the service sector Summary The latest data for Japanese service providers indicated that the expansion evident in previous surveys continued in July, but the pace slowed. Business activity increased only marginally, whilst new business and employment stagnated, in each case ending eight-month sequences of growth. The headline seasonally adjusted Business Activity Index fell in July to 50.6 from 52.1 in June
View article: FOMC Minutes and Economic Projections: Dissent in Both Directions; Confused?
Read More: Currency Stress Hits India: Rupee Near Record Low, Emerging Nations Face Capital Flight; Global Currency Crisis Awaits
The Financial Times reports Brazil declares new ‘currency war’ Brazil has declared a fresh “currency war†on the US and Europe, extending a tax on foreign borrowings and threatening further capital controls in an effort to protect the country’s struggling manufacturers. Guido Mantega, the finance minister who was the first to use the controversial term in 2010, said the government would not “sit by passively†as developed nations continue to pursue expansionary monetary policies at the expense of Brazil.“When the real appreciates, it reduces our competitiveness
Error Over Quota This application is temporarily over its serving quota.
Inquiring minds with extra time on their hands this morning are plodding through the Full Transcript of Bernanke’s Testimony To Joint Economic Committee, U.S. Congress looking for the usual collection of half-truths, distortions, and outright lies it usually contains. Here are some point-by-point statements by Bernanke with my comments immediately following each set of statements.