Central Bank Watch
Bernanke Press Conference Leaves Me with an Unsettled Feeling
June 19, 2013
I’m a fan of the Fed Chairman. Under extraordinarily difficult circumstances, his policy instincts contributed critically to the United States weathering the past decade in better shape than other developed economies, meaning faster growth, lower inflation, lower unemployment, a greater drop from the crest of unemployment, a faster drop in the fiscal deficit-to-GDP ratio, and […] More
Central Bank Watch
An Eagerly Awaited FOMC Message
June 19, 2013
The FOMC statement will be released in less than two hours, along with new forecasts. The previous statement on May 1 caught the market’s attention with the addition of a sentence saying, “The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation at the outlook for the […] More
New Overnight Developments Abroad - Daily Update
Mostly Marking Time Ahead of FOMC Revelations
June 19, 2013
The recent trend toward a firmer yen got a boost from Japanese trade data. The yen touched overnight highs of 94.82 per dollar and 127.04 per yen, but the net appreciation against the U.S. currency from Tuesday’s close was only 0.2%. Other dollar changes have been similarly contained, with no net movement against the euro, […] More
