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World news

Sydney man charged with being 'economic agent' for North Korea
BBC News - World 17-12-2017 02:19
Chan Han Choi, 59, from Sydney, was arrested and charged with breaching sanctions and weapons laws.
Chile: Landslide destroys village and kills at least five
BBC News - World 17-12-2017 01:05
A search continues for 15 people missing, after five died in a village in the south of the country.
Anita Hill to chair Hollywood harassment commission
BBC News - World 16-12-2017 23:08
The lawyer will head the group after a series of Hollywood sexual abuse and harassment allegations.
Pentagon ran secret multi-million dollar UFO programme
BBC News - World 16-12-2017 21:45
US media reports say documents from the operation describe strange aircraft and hovering objects.
Woolly mammoth skeleton sold for 548,000 euros in France
BBC News - World 16-12-2017 17:32
The ancient skeleton is thought to be the largest of its kind in private hands.
ANC: Zuma pleads for unity as party picks new leader
BBC News - World 16-12-2017 17:16
South Africa's governing party is picking a new head after a bitter leadership battle.

Finance

Pensions: Automatic saving to start at 18 under new plans
BBC News - Business 16-12-2017 23:51
An extra 900,000 young people could automatically save into a workplace pension under the plans.
Hunter Harrison: CSX railway boss dies
BBC News - Business 16-12-2017 22:05
The US transportation company's shares fell sharply on Friday after CEO's medical leave was announced.
US tax bill: Republicans agree sweeping changes
BBC News - Business 16-12-2017 00:06
Senate and House lawmakers reveal final details of the biggest change to the US tax code in 30 years.
Cash controversy: The High Streets with too many ATMs
BBC News - Business 15-12-2017 21:59
The cash machine industry and the network are at loggerheads over closure plans.
Sky News faces uncertain future after Disney-Fox deal
BBC News - Business 15-12-2017 21:59
Will Disney want to keep pumping money into a loss-making news channel after the Fox deal?
Unilever sells margarine business to KKR for £6bn
BBC News - Business 15-12-2017 16:58
The Anglo-Dutch firm is selling brands including Flora and ProActiv to the private equity giant.

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 1021 times Last modified on Friday, 24 April 2015 10:34
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