quantitative easing

Here are some quick thoughts on QE3. Central banks around the world are taking the lead on reflation where fiscal agents refuse to do so. And the policy stances have become increasingly aggressive. Right now, every major central bank is…

Due to the continued high rate of unemployment, the Federal Reserve today took an aggressive policy stance that is being dubbed QE3. The Fed will purchase $40 billion mortgage bonds per month and extend the maturity of its holdings of…

The Federal Reserve Board issued the following statement in conjunction with the FOMC's decision to begin an aggressive round of quantitative easing. Information received since the Federal Open Market Committee met in August suggests that…

By Marc Chandler The US employment data is an important disappointment, especially coming on the heels of yesterday's ADP and service ISM reports that had lifted expectations. The private sector created a net 103k jobs, well below the 143k…

The following is an excerpt of an article written for the Dallas Fed this month by William R. White, a well-known Canadian economist who served as Chief Economist for the Bank of International Settlements until 2008 and was also one of the…

I was discussing this with a few friends online a couple of weeks ago and now it's all over the news. Earnings have been poor, yet stocks continue to push higher. One argument was that "the key is deleveraging the banking system in an…

By Marc Chandler In recent weeks, the market had appeared to be scaling back expectations of another round of asset purchases by the Federal Reserve.   US 10-year Treasury yields rose nearly 40 bp since the August 1.  The reconsideration…

A few hours ago I wrote a rather downbeat post on the prospects for the US economy that continued the thoughts from an article I wrote in the New York Times. A number of other sources have confirmed some of the logic behind that post since…

By Marc Chandler The Federal Reserve defied expectations and took no new action nor altered its guidance in terms of how long rates will remain exceptionally low (late 2014). The dollar rallied on the news initially, but with the ECB…

I want to tie a few threads together regarding the synchronised global slowdown and the related drop in corporate earnings. US firms had been insulated on earnings due to not increasing staff and the global nature of their profiles. With…