The enigma of Janet Yellen
WASHINGTON -- She who is about to
During the 2012 Republicans National Convention, Ron
Sen. Rand Paul is threatening to hold
The Commerce Department’s second reading on U.S.
The Shadow Financial Regulatory Committee (SFRC) is
The Federal Reserve on Wednesday announced that no changes to its bond buying program will occur, and that it will be holding interest rates steady at near zero. The inactivity by the Fed came as a surprise because a reduction to the central bank’s $85 billion monthly purchases of mortgage-backed securities and government bonds, known as quantitative easing, was widely expected.
U.S. first quarter GDP growth, not surprisingly, was more tepid than previously estimated in the first quarter. Economists are citing that the economy was held back by a moderate pace of consumer spending, weak business investment and declining exports.
U.S. stock-index futures are extending a steep selloff that started in Asia on the back of worries about credit conditions in China and lingering concerns about the Fed’s plans to slow its bond buying. Dow futures are down 136 points, or 0.92%, while S&P 500 futures are off 1% in choppy trading. Treasury bonds are taking heavy losses as well, with the yield on the 10-year jumping 0.06 percentage point to 2.606%.
UPDATE: The latest economic news just keeps getting worse. While President Obama is off playing with his social-democracy friends in Europe and abroad, the country is is political and financial turmoil.
The Dow Jones Industrial Average is in free fall, down 350 points. The economy simply cannot handle easin gof QE3. Every single stock in the Dow is in the red.
UPDATE: The markets are selling off as traders fret that a rosier Fed economic outlook may push the central bank to trim back its bond buying sooner than expected. The Dow is down 137 points, or 0.9%, while the broader S&P 500 is off 0.87%. Meanwhile, traders are selling Treasury bonds, sending the yield on the 10-year up 0.13 percentage point to 2.317%.
