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Inflation Is Coming
As expected a great deal of attention is still being paid to the financial sector and its "toxic assets". And then we have the Dow that now seems — at least to a great many market players — to be signalling a recovery despite the fact that unemployment is still rising and looks like reaching the 10 per cent level. Reinforcing the Pollyanna’s view of the economy is the emergence of a positive yield curve. In addition, figures from the Institute of Supply Management show that its Performance Manufacturing Index for March was up by 0.5 per cent while new…
14Apr2009 | The Real Deal | 0 comments | ContinuedFederal Reserve Policymakers Stand Up to Wall Street’s Easy-Money Crowd
The U.S. central bank’s Federal Open Market Committee (FOMC) yesterday (Tuesday) left the benchmark Federal Funds rate target at 2.0%, after many had expected the central bank policymaking committee to cut rates in the wake of the Lehman Brothers Holdings Inc. (LEH) collapse.
What’s more, the statement that was issued after the policymaking meeting was somewhat “hawkish,†suggesting that the U.S. Federal Reserve is awakening to the dangers of persistent and gently rising inflation. Wall Street was initially spooked; it had hoped for the usual bounce that follows a Fed rate cut. However, investors subsequently decided the Fed’s inaction meant things…
17Sep2008 | Money Morning | Comments Off | Continued
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