Larry's Blog
Obama Halftime Report
January 20, 2011
Aside from being the fiftieth anniversary of the Kennedy inaugural, today marks the midpoint of President Obama’s four-year term and thus a good time to compare the U.S. economic performance under his stewardship with how the economy did in the first two years of previous presidencies. I checked five criteria: real GDP growth, total CPI […] More
Larry's Blog
Looking Back a Half Century at the Kennedy Inaugural Address
January 20, 2011
Being a baby boomer is central to my identity. For those of us in the earliest wave of that generation, the Kennedy inauguration towers in the pantheon of select memories from our youth. The pageant awakened us baby boomers to a large world out there and to America’s special role at a critical historic moment. […] More
Central Bank Watch
No Change Made in South African Reserve Bank’s 5.5% Repo Rate
January 20, 2011
South African monetary officials, who meet less frequently than most central bank policy boards, implemented three rate reduction in 2010 including its prior two meetings in July and November. These had augmented 500 basis points of relief from December 2008 to August 2009. All that easing was made possible by falling inflation, which at 3.5% […] More
Central Bank Watch
Surprise Turkish Rate Cut Part of a Plan to Curb Lira Strength
January 20, 2011
The one-week repo rate of the Central Bank of the Republic of Turkey has been reduced another 25 basis points to 6.25%. Such was cut 50 basis points in the middle of last month, its first change since July 2009. Rates were slashed by 1025 basis points over the first seven months of 2009. Monetary […] More
New Overnight Developments Abroad - Daily Update
Chinese Statistics Rattle Investor Confidence
January 20, 2011
The euro advanced 0.2% on the dollar and also climbed against other currencies. The dollar rose 0.9% against the kiwi, 0.6% versus the Australian dollar, 0.3% relative to the Canadian currency, 0.2% against the yen and 0.1% against sterling. Dollar relationships against the Swiss franc and Chinese yuan are unchanged. Higher-than-expected Chinese GDP growth last […] More
