Canada Archive

U.S. Federal Reserve Meeting Minutes for December 11

U.S. Federal Reserve Meeting Minutes for December 11 2008-01-02 14:06 (New York) (Bloomberg) Following are the minutes of the Federal Reserve’s Open Market Committee meeting that concluded on December 11. The Manager of the System Open Market Account reported on recent developments in foreign exchange markets. There were no open market operations ...Read More

A Rescue Plan for the Dollar

A Rescue Plan for the Dollar By Ronald McKinnon and Steve H. Hanke The Wall Street Journal, December 27, 2007 Central banks ended the year with a spectacular injection of liquidity to lubricate the economy. On Dec. 18, the European Central Bank alone pumped $502 billion — 130% of Switzerland’s annual GDP ...Read More

Calories, Capital, Climate Spur Asian Anxiety

Higher oil prices mean lower rates from the Fed, and higher inflation rates induced by shortages mean stronger currencies abroad. Why do I have so much trouble getting aboard this paradigm, and instead keep looking for reversals? Feels a lot like watching the NASDAQ go from 3500 to 5000 a few years ...Read More

Re: more in ism

(an interoffice email) > ADP came in higher than expected and caused most dealers to raise their > payroll forecasts. > > Productivity revised UP to 6.3% vs 4.9%preliminary. Unit Labor Costs revised > to DOWN 2% vs. -0.2% preliminary. > ISM Non-Manuf, Nov — slips to 54.1 vs. 55.8 prior, weaker-than-forecast. ...Read More

BoC cuts rates

Makes a lot more sense to Central Bankers to cut with a strong currency than a weak one, particularly with the strong currency keeping prices below their inflation targets. The ECB, however, is looking at 3% cpi, and would rather not see the Fed cut, as they believe that would weaken the ...Read More