Archive for February 25th, 2010

Larry's Blog

Reflections About the Fed on a Snowy Day

February 25, 2010

A key message of Fed Chairman Bernanke’s testimony this week has been that while improved financial market functionality warrant the gradual unwinding of unconventional measures, the economy is not ready for outright monetary tightening.  It may be an “extended period” before such a time arrives.  The point is not that the recovery that saw GDP […] More

New Overnight Developments Abroad - Daily Update

Sharply Higher Yen

February 25, 2010

Uneasiness about Europe sent the yen and dollar higher.  The yen gained 0.9% against the dollar and hit a one-year high against the euro of 120.20.  At the new peak, the yen is 41.4% higher relative to the euro than when it stood at 170 per euro on July 23, 2008. The dollar has risen […] More