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World news

AirAsia X flight forced to land after 'shaking like washing machine'
BBC News - World 25-06-2017 10:42
AirAsia pilot changes course from Perth after an engine problem causes passenger plane to vibrate.
Pakistan oil tanker inferno kills at least 140
BBC News - World 25-06-2017 10:38
People were killed as they gathered to collect fuel from the overturned tanker, officials say.
China landslide: More than 100 missing as search continues
BBC News - World 25-06-2017 08:55
Thousands of rescuers are digging through rocks for a second day in the hope of finding survivors.
Texas mother held after two toddlers die in hot car
BBC News - World 25-06-2017 06:55
The Texas woman admitted she shut the car door to teach her girl and boy "a lesson", police say.
Trump accuses Obama of inaction over Russia meddling claim
BBC News - World 25-06-2017 01:15
The president says his predecessor "did nothing" despite knowing of meddling claims before the poll.
Italy acid attack model Gessica Notaro returns to work
BBC News - World 24-06-2017 21:32
The former Miss Italy finalist said she was doing so to encourage other women to defy bullies.

Finance

Free trade deals for 'poorest countries' to be maintained post-Brexit
BBC News - Business 25-06-2017 01:03
The government commits to maintaining duty-free imports for 48 developing countries.
Building society's account deadline axed
BBC News - Business 23-06-2017 22:01
Current accounts at the Norwich and Peterborough had been earmarked to close by the end of August.
Tesco is raising store staff pay by 10.5% over two years
BBC News - Business 23-06-2017 21:29
Hourly pay rates will rise to £8.42 an hour by November 2018 but Sunday pay will be reduced.
Troubled Toshiba flags deeper losses
BBC News - Business 23-06-2017 15:44
The troubled Japanese electronics giant delays its final earnings report again as its losses worsen.
Watchdog clamps down on online gambling
BBC News - Business 23-06-2017 11:28
The competition regulator is to take action against betting sites which it says are breaking consumer law.
Hinkley Point deal 'risky and expensive'
BBC News - Business 23-06-2017 07:43
Costs and risks for energy users 'not sufficiently considered' warns the National Audit Office.

Commodities

In News
Written by  Thursday, 24 May 2012 08:53

The Federal Open Market Committee (FOMC) of the Fed released its latest policy statement on Wednesday ahead of Chairman Ben Bernanke’s widely anticipated and expected press conference, scheduled for 2:15 PM eastern time.  In its statement, FOMC members blamed Japan and high commodities for the current slowdown in the economic recovery, telling people those effects would prove to be transitory.  QE2, as expected, will end with June.

The FOMC statement was bland - Wikipedia

Expectant market watchers looked to the Fed release for signs that anything would change, that Bernanke might signal something new this time around.  While the FOMC release appeared little changed, it was relevant that the Committee confirmed that the economic  recovery “is continuing at a moderate pace,” albeit “somewhat more slowly” than expected.


Pointing its fingers to the rest of the world, Bernanke’s Fed said that the current “soft patch” is being caused by transitory effects.  Inflation, they said, was caused by high commodity prices pushing up energy and food costs, while supply-chain disruptions in Japan were in the process of being solved.

On quantitative easing, the FOMC said they would conclude the latest $600 billion plan of long-term asset purchases, or QE2, and said it would continue to reinvest the principal payments from its securities holdings; interest rates would remain at the 0% to 0.25% range for “an extended period.”

While not hinting at QE3, they did reiterate that the Fed would continue to monitor “the size and composition of its securities holdings and is prepared to adjust those holdings as appropriate.”  Market watchers will have to wait for the Q&A at the press conference for any further hints that Bernanke might continue to feed the markets with easy money.

Just wait and see, they asked the general public, telling them that as time passes, both unemployment and output would move back to levels at or around those consistent with their dual mandate of price stability and maximum employment.

Read 834 times Last modified on Friday, 24 April 2015 10:34
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